SINGAPORE Press Holdings (SPH), through a wholly owned subsidiary, is the lead investor in a US$10 million round of funding in Magzter Inc, a global digital magazine store and newsstand. The other co-investor in the Series B funding is Kalaari Capital, a venture capital fund investing in global technology-oriented companies.

"Investing in Magzter Inc is an opportunity for us to enter into yet another new platform for content delivery and is part of our strategy to enhance content creation and distribution," said Deborah Lee, executive vice-president, Corporate Development, SPH. "We are excited to be part of this round of funding and see great potential in Magzter for future growth."

Magzter is the world's largest and fastest-growing self-service digital magazine store and newsstand. It allows any publisher in the world to digitally publish for a global audience. It has over 16 million digital consumers, more than 2,850 magazine titles and over 900 publishers. Global publishers and magazines using Magzter include the United States' Hearst Corporation, Conde Nast, Newsweek and Bloomberg; UK's Haymarket Media Group; Hong Kong's Edipresse; and Singapore's SPH.