Published: Nov. 20, 2023 at 8:14 a.m. ET
By Nina Kienle
ProSiebenSat.1 Media’s SevenVentures investment arm is taking a stake in the Swedish e-commerce startup Matsmart-Motatos, the German media group said Monday.
Matsmart-Motatos separately said it completed a 40 million-euro ($43.7 million) funding round led by Circularity Capital, in which SevenVentures became a new investor,…
By Nina Kienle
ProSiebenSat.1 Media’s SevenVentures investment arm is taking a stake in the Swedish e-commerce startup Matsmart-Motatos, the German media group said Monday.
Matsmart-Motatos separately said it completed a 40 million-euro ($43.7 million) funding round led by Circularity Capital, in which SevenVentures became a new investor, with additional support from existing shareholders.
ProSiebenSat.1 didn’t disclose the exact size of its stake, but said it is worth a figure in the single-digit-million-euro range. Food startups have been an investment target for SevenVentures recently, the company said.
The transaction was carried out via a media-for-equity investment as part of which that seeks to strengthen Matsmart’s position in German-speaking markets through ProSiebenSat.1’s TV and digital reach, ProSiebenSat.1 said.
Matsmart is an online reseller of food and consumer-goods that traditional retailers can’t buy. It was founded in 2014 and currently operates in Sweden, Finland, Denmark, Germany and Austria.
Write to Nina Kienle at nina.kienle@wsj.com
