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Startup Yard, the Czech startup accelerator which will demo its current batch of companies in Prague (28 November) and London (1 December), has today announced funding news. One of its incubated companies Proactify has received a seed funding (I am not sure, pre-seed funding is the right term) of Euro 40 000 in exchange of 12.5 per cent of the equity. Their backer is Jan Barta, one of the Startup Yard investors.
Proactify team was formed in April 2011 to work on a solution to improve personalized selling advice by the ecommerce merchants to increase convertion rate of the visitors.
According to the Startup Yard blog, the team is going to spend this generous sum of money on growing both development AND sales teams. This tells you how much more cost effective it is to start a business in central and eastern Europe.
Startup Yard invests Euro 6’000 into the teams in exchange for 10 per cent of the equity, or, if funding is not needed – takes 5 per cent for mentorship only.
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