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Slovak Datamolino secured seed funding 500k eur from FIT

First team from Wayra Prague got money from external investors. After seven months spend in accelerator Datamolino has raised 500k euro from Slovakian Fund of Innovation and Technology (FIT).

Datamolino is a startup which has built a platform for accountants from SME sector companies. “This will help us to perfect the product and set the stage for expansion into EU markets. We would like to thank everyone who has put their trust into our team and product,” says Datamolino on its blog.

Datamolino wants to use the money for European expansion, and to prepare full commercial launch this summer. FIT split the investments into three tranches. Datamolino gets 300k euro for sure but the remaining 200k only if they fulfill the plan. In order to promote the product further, Datamolino also has a plan to integrate the system with b2b software packages that target SMEs. Glezl added, “There is a huge opportunity to implement with solutions such as Sage One, Quickbooks, Xero, etc. Our product has to go through technical and marketing review with such firms – the seed funding should ensure we can get through that.”

Datamolino is one of eight teams that graduated on Wayra Prague. “When we got to Wayra, we had a team of 5 people and a plan validated by a few potential customers. Now that we’re leaving Wayra, we have a product that is being tested by our future customers and a team of 15 people that form a real company,” says Andrej Glezl, co-founder of Datamolino.

Milions for hungry panda

Foodpanda and its affiliated brand hellofood, a fast growing online food delivery marketplace, received another $20 million in funding from a group of investors including Phenomen Ventures. With the new investment foodpanda is aiming to continue its global ambitions and roll out to over 40 markets by the end of Q1. The food delivery startup, which was founded in 2012 by the Berlin-based company builder Rocket Internet, is currently operating in four continents.

Last year, foodpanda expanded into 20 more countries including Czech republic and launched a mobile app for iOS and Android, which is currently one of the leading food delivery apps worldwide. Following its growth strategy, foodpanda expands its services into eight more countries including Croatia, Bulgaria, Serbia, Slovenia, Kazakhstan, Azerbaijan, Tanzania and Uganda in early 2014.

The online marketplace helps restaurants to increase delivery sales through online and mobile platforms and provides them with constantly evolving technology and analytics. Customers can choose their favorite meal online and foodpanda processes the order directly to the restaurant, which delivers the meal to the customer. foodpanda is partners with over 22.000 restaurants worldwide. In 2013 foodpanda secured more than $20 million funding from Phenomen Ventures and Investment AB Kinnevik and $8 million from iMENA Holdings.