T-Venture, the corporate venturing unit of Deutsche Telekom, has invested in Magari Internet, a Germany-based operator of online auto parts portal Departo.
T-Venture, the most influential corporate venturing unit in utilities according to news provider Global Corporate Venturing, and VC Fonds Technologie Berlin, a €52m ($67m) venture fund managed as a joint initiative of local bank Investitionsbank Berlin and the state of Berlin, provided the undisclosed finance to Magari.
Stefan Friemel and Christian Koeper, two former managers at online auction company eBay, started the company last year.