Kno Inc. Raises $46 Million for Educational Advocacies
Tablet-maker Kno Inc. reports the closure of a $46 million debt-and-equity round led by Andreessen Horowitz.
Kno the company, whose name its 14-inch tablet shares, says they are planning to use the capital infusion to make more room for digital innovation in the sector of education. Their goal is to “get the Kno into the hands of students for beta testing this fall and ultimately for the first customer ship later this year,” according to Kno Co-founder and CTO Babur Habib.
They want to improve on their touchscreen tablet and its corresponding platforms such as digital textbooks, educational apps and relative media. Taking from Forrester’s data, the tabletmaker is expecting an increased unit sales from today’s 3.5 million to 2015’s 20.4 million. The less than $1000 dual-screen device, though, proves to be a rather too expensive player in the market.
But we are hoping that the result will be deserving of the Andreessen-led financial round results. The financiers of similar startups such as Foursquare and Skype has been joined by Silicon Valley Bank and TriplePoint Capital in this series.View Article Source »