[Funding alert] Krakow-based edrone Secures €4.6 Million in Funding

Friday 2, 2024 | By Startup Rise EU

Krakow-based edrone Secures €4.6 Million in Funding. INventures took the lead in this round. Mueller Medien, Atmos, and PortfoLion also took part.

Krakow-based edrone Secures €4.6 Million in Funding. INventures took the lead in this round. Mueller Medien, Atmos, and PortfoLion also took part.

Because of edrone's consistent growth—the company has about $7 million in annual revenue and is currently valued at PLN 120 million ($30 million)—new capital could be acquired.

Read also - Traveltech Company Amadeus Acquired Vision-Box

Capital from INventures and the other firms' conversion of debt capital into shares made up half of the investment total. In order to at least double the company's manpower in Brazil, it will mostly be utilized to grow the Brazil branch and hire new staff.

Michał Blak, Co-Founder and CEO of edrone said, “In 2023, we doubled our Brazilian revenue. The newly acquired funds will allow us to expand our operations in Brazil, where we already managed to double revenues in 2023. We will also focus on improving business processes in Poland, and further investments in the product will let us even better utilize marketing automation supported by Artificial Intelligence,”.

Following the investment, Michal and Rahim Blak, the company's founders, continue to own a significant amount of ownership (60%) and participate actively in decision-making.

Read also - Switzerland-based Spiden Secures $15Million in Additional Funding

Katarzyna Dąbrowska, CEO of INventures said, “The product, its business metrics, and the conception for international growth have won our praise. What sets edrone apart and ensures its potential to grow is effective management. At edrone, the delegation of responsibility to key people in the company works perfectly. They recruit exceptional talent and utilize essential competencies accordingly,”

With over 150 workers in Krakow and Brazil, edrone plans to add 70 more this year. The monies gained will be utilized to grow the workforce. Devoted to the advancement of its corporate ethos, the firm is rapidly expanding the People and Culture division.

Under the direction of serial investor, M&A advisor, and e-commerce entrepreneur Robert Ditrych, thirteen angel investors have also made investments in edrone. Among them were WEG Partners and Maciej Zawadzinski, the managing partner of Next New Ventures and the founder of PiwikPRO.

Read also - Stockholm-based Version Lens Secures Pre-Seed Round Funding

Established in 2026, edrone is a technology utilized by about 2000 internet retailers, mostly in Brazil and Poland. The investment consists of expanding the product's development team and doing additional work on it.

About edrone

The first eCRM specifically made for eCommerce is called edrone, an autonomous eCommerce cloud. They offer sophisticated Marketing Automation solutions that are simple to implement (Plug'n'Play) and based on their algorithms. With an all-in-one e-commerce marketing cloud, they hope to assist in better understanding customer behavior (customer intelligence) and engaging them (marketing automation).

Read also - Hamburg-based airfocus Secures $7.5Million in Funding

Recommended Stories for You

story
News

German-based Octomind Secures $4.8 Million in Seed Funding

Startup Rise EU Tuesday 23, 2024

story
News

Dublin-based SynOx Therapeutics Secures $75Million in Series B Round Funding

Startup Rise EU Tuesday 23, 2024

story
News

Paris-based Zefir Secures €11Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Helsinki-based HappySignals Secures €12 Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Italian-based Lithium Lasers Secures €2 Million in Funding

Startup Rise EU Monday 22, 2024

story
News

[Funding alert] Munich-based Smart Reporting Secures €23 Million in Series C Round Funding

Startup Rise EU Monday 22, 2024