Kno, which is making an e-reader designed for students, has raised $46 million in additional equity and debt financing. Known until this spring as Kakai, the startup unveiled its device at the AllThingsD conference this year. It has two large side-by-side touchscreen displays and is supposed to be especially useful for note-taking, letting users “write directly on the page,” “highlight,” “add sticky notes,” and “even display two different parts of the book at once,” according to a description on its website.
Kno says the device will be be available for purchase “by late fall.” The company hasn’t said what the device will cost, but CEO Osman Rashid tells TechCrunch it will sell for under $1,000. Rashid is also the co-founder and chairman of textbook rental startup Chegg, which has raised its own big round last fall.
Kno had last raised funding in December, when it raised $7.5 million from a roster of big name investors, including Andreessen Horowitz, Josh Kopelman of First Round Capital and serial angel investor Ron Conway. This funding round was led by Andreessen Horowitz. Silicon Valley Bank and TriplePoint Capital also participated. It brings Kno’s total funding to more than $54 million.
Here’s a slightly over the top video describing the device: