A venture firm backed by Germany-based retailer the Otto Group hasy helped Auctionata, a Germany-based online auction house raise an undisclosed sum.
eVenture Capital Partners, backed by Otto, today has joined HV Holtzbrinck Ventures, the former corporate venturing unit of Von Holtzbrinck publishing, and Raffay & Cie, which is linked to the eponymous automobile sector company, as investors in Auctionata, according to news provider ECommerceBytes.
Alexander Zacke, chief executive of Auctionata, said: "As of today, the total invested by founders, angels and VCs [venture capital firms] is $5m. Backing from VCs is crucial for Auctionata to grow the business. So far they have got one third of the company. "
eVenture Capital Partners and HV Holtzbrinck Ventures are listed on Auctionata.