Korean Startup Ridibooks Secures $20 Million

Ridibooks announced the completion of $20 million in Series C financing. Three investors participated in the round: Praxis Capital Partners, ShinHan Finance Investment, and Company K Partners.

Ridibooks is the biggest eBook store in South Korea that allows its members to download books online.

In its announcement, the company said the capital will be used to improve the user experience of Ridibooks’ products, which now include Ridibooks, its main bookstore, an e-reader called Ridipaper, and Ridistory, a platform it launched in January for serialized novels and web comics.