Alberta, Canada-based social net Nexopia has raised an unspecified, but “substantial” investment from Burda Digital Ventures, the VC arm of German media firm Hubert Burda Media. The four-year old site claims 1.2 million registered users, and it plans to use the funding to expand across Canada in the US. The site is definitely geared towards youth, and feels much more like MySpace than Facebook. A recent Canada.com article on the site notes that 9 in 10 of its users are Canadian and that traffic has been surging. Founder Timo Ewalds claims to have written the original code while in high school to take files home from school, circumventing a ban on floppy disks. With the raise, Ewalds will be stepping aside as CEO and will be replaced by Boris Wertz, former COO online book retailer Abebooks.com. Release.