USD 20 million for Kuuhubb
Helsinki-based digital company Kuuhubb has received a significant funding boost from investors in Canada, Switzerland and Finland.
Totalling 20 million US dollars, the capital was raised from a group of institutional investors, strategic partners and family offices.
According to Kuuhubb, a large part of these resources is being used to finalise the recent acquisition of the Finnish company Sumoing, the creator of Recolor. Recolor is the global leader among colouring book applications and specialises in apps tailored to a female audience.
Kuuhubb also intends to use the funds to invest in several new app vendors. Earlier this summer, it also managed to bring in Kellogg and Cosmopolitan as brand partners.
The company helps digital businesses, mainly lifestyle and mobile video game applications, to market and brand themselves. Its headquarters are in Helsinki, and focusses on the US, Indian and Japanese markets.