MotorK, an Italy-based automotive sales and marketing technology developer, has raised more than €10m ($12m) in equity and debt financing from a consortium led by Real Web, the local holding company behind Immobiliare.
Bank Illimity was the sole provider for the debt facility, while venture capital firms 83North and Zobito joined the equity tranche. European Investment Bank has provided an additional credit facility.
Founded in 2010, MotorK said the money would be used for new digital and technological tools consolidating marketing services at dealerships and manufacturers.
Andrea Piccioni, president of Real Web, said: “[MotorK’s] team is demonstrating how particularly effective technological platforms can be built to allow the automotive sector to face, with the appropriate expertise, the new challenges posed by the digital revolution.”
