Berlin Publishing Startup Inkitt Raises $59 Million in Funding

Inkitt, a digital publisher, raised $59 million in its latest funding round to finance its growth plans, according to Chief Executive Officer and founder Ali Albazaz.

The Series B round was led by media and technology company Axel Springer SE and Scott Sandell, managing general partner at venture capital firm NEA, Albazaz said in an interview. The fundraise valued the Berlin startup at nearly $400 million, according to people familiar with the transaction.

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