The second round of financing has raised some US$41 million in financing led by Index Ventures, the European venture capital fund. Apple, HP and Rosewood Venture Group have also invested in Ofoto. Exact amounts of investment by the new partners was not disclosed. With the second round of funding, the total amount of capital raised by Ofoto is $57.5 million, the largest amount of secured funding for the online photography category, the company said.
Ofoto said it will use the funding to bring new products and photo services to its marketplace, expand its customer base and expand the capacity of its digital photo processing labs.
Ofoto Inc. is an online photography service offering digital and film processing, top quality prints, private online image storing and sharing, editing tools and framing and other services. Founded in July 1999, Ofoto runs its own state-of-the-art digital-photo lab and offers 24-hour customer support.