The size and terms are unknown but it brings the total funds raised by Auctionata to €15.5m, which is €2.3m more than the funding tally reported last December. Other investors backing the startup include Holtzbrinck Ventures, eVenture Capital Partners and the Raffay Group.
Auctionata aims to bring the traditional auction experience to the online world – think eBay meets Sotheby’s with a focus on art, antique and collectible items. The site officially launched September of last year and has already patented their live auction system, which promises HDTV-production quality to computers, tablets and mobile devices. Additionally, the platform relies on a team of 250 experts “in all kinds of fields” to ensure accurate valuations of objects.
“Unlike traditional auction houses, where the excitement naturally falls off after each auction, the combination of online auctions and online shop generates a high experience factor for potential buyers and sellers alike,” said Auctionata CEO and co-founder Alexander Zacke.
“We are very pleased that our team of investors now includes another highly experienced global player like Earlybird bringing expertise in ecommerce and technology platforms,” he added.
If you’re a fan of Austrian painter Egon Schiele and have some millions to spare – you’ll be happy to know that on 21 June 2013, Auctionata will be selling an original watercolour (Reclining Woman) in a live online auction from its own TV studio with a starting price of €1m.
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German auction site secures $2.5 million from Russia’s Bright Capital
Auctionata – Berlin’s “Sotheby’s meets eBay” – readies expansion plans
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