IBB backs Blinkist

Berlin-based IBB invested via its VC Fonds Kreativwirtschaft Berlin vehicle, which currently holds €30m. MGO Digital Ventures, the venture capital arm of media group Mediengruppe Oberfranken, also invested in the Berlin-based start-up.

Blinkist, whose previous backers include Deutsche Telekom, will use the funding to increase its content offering and build up its user base.

In its latest investment prior to backing Blinkist, IBB invested in surgical navigation technology company Scopis alongside High-Tech Gründerfonds in mid-November.

Company
Blinkist is a mobile phone application that offers consumers the summarised content of text books. Consumers are able to read the short summaries, dubbed "blinks", instead of having to read the entire book. The app, which is available in German and English, currently offers around 150 text-book summaries. A monthly subscription costs €4.49.

Founded in 2012, Blinkist has partnered with companies such as Xing, a German professional networking site similiar to LinkedIn, and entered licensing agreements with publishing houses Random House and Campus.

People
Holger Seim, Niklas Jansen, Sebastian Klein and Tobias Balling co-founded Blinkist. Kathleen Olstedt is a business analyst at IBB.

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• Topics
• DACH
• Consumer
• Early-stage
• Germany