A German e-commerce startup, Auctionata, has announced that it has raised USD 45 million in a Series C round of funding from a group investors led by MCI Management, including Hearst Ventures.
Auctionata, founded in 2012, is an online auction house and e-commerce company specializing in art, antiques and collectibles.
The San Francisco-based techcrunch.com website quoted Alexander Zacke, Auctionata's founder and CEO, as saying that since the launch of weekly live stream auctions in May 2013, Auctionata has grown considerably and successfully positioned itself as a global leader for online auctions of art, antiques and luxury collectibles.
Zacke was also quoted as saying that in the future Auctionata will focus on efficient growth and laying the ground for both organic and non-organic category and geographic expansion.
Auctionata plans to use the money to expand its service to new geographies and new categories. New auction areas will include musical instruments, memorabilia, architectural and garden pieces, diamonds and real estate.
Auctionata had net sales of USD 34 million in 2014 and USD 13.5 million in the first quarter of 2015.