MCI Management has just announced closing Series A round for two startups – mGenerator and Feedo with nearly 1,7 million Euro in funding.
The two businesses are very different. mGenerator is a website builder, including responsive mobile websites, online stores and applications. The business is said to be the pioneer in the field of automatic mobile website building in Poland, although, in my opinion, the website builders are too many: just googling “mobile website builder” offers 72 million results. One of them – Wix is a publically listed company with market capitalization of 685 million Euro. Admittedly Wix does not have Polish version, but Russian one is already in place. mGenerator is available in Polish.
Feedo – babycare marketplaces in Czech Republic and Slovakia are said to be market leaders in these two countries. The startup will use the funding on technology development, marketing and customer service. Previously MCI management backed Windeln.de that combines online shop for baby products as well as a themed private shopping club. Feedo plans to implement the same model according to Tomasz Danis, Fund Manager of Internet Ventures.FIZ (part of MCI Capital). Last year in Poland Xevin Investments backed private shopping club for babycare products Baby Secret.
I like specialization of the online stores on the baby topic. Unfortunately, just by specializing on babies only they miss out on life-time customer values. Babies grow up quickly and even satisfied customers are forced to move on to other platforms to shop for clothing and toys for older children.
The amount of funding for individual startups has not been disclosed. Depending on the performance the fund plans spending further 4,8 million Euro in the subsequent rounds.
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