Capnamic et al. in $6.4m series-A for Zeotap

José Rojo
05 August 2015

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Capnamic Ventures and Iris Capital have taken part in a $6.4m series-A for German data platform Zeotap, alongside several business angels and existing backers.

Zeotap's series-A also featured capital from entrepreneurs Michael Halbherr (formerly CEO at Nokia Here), Steffen Roehn, Devin Guan and Peter Scheufen.

The consortium of investors were also joined by Zeotap's existing backers, including entrepreneurship platform HitFox Group and business angels Peter Zuhlsdorff, Andreas Kindt, Armin Iskander, Armin Iskander and Dirk Freytag.

The fresh funds will assist Zeotap in expanding the company's team of engineers in Bangalore, India, with the appointment of Ameya Agnihotri as engineering vice-president and three additional hires.

The transaction is the latest stemming from the partnership between VC duo Capnamic and Iris for early-stage investments in German digital companies, via their respective Capnamic Ventures Fund and OP Ventures Early Stage vehicles.

The agreement, sealed in March 2013, has seen the firms come together in transactions including a €2.2m series-A for Bonn-headquartered SaaS provider LeanIX in March 2015, a €2.8m round for data management service Adex in the same month and a €4m injection into Frankfurt-based smartbike system Cobi in April 2015.

Previous funding
The series-A round for Zeotap comes less than a year after the business secured $1.3m in seed financing from HitFox Group and a number of entrepreneurs. At the time, the company revealed the funds would be dedicated to its newly launched data platform and the development of its operations in Asia and the San Francisco Bay Area via additional hires.

Company
Established in 2014, Zeotap has developed a data platform targeting advertising needs among mobile network operators. The Berlin-headquartered business extracts telecommunications data, anonymises it and then provides scores that operators can use during advertising transactions. Its clients include large operators in Europe, America and Asia.

People
Capnamic's work on the deal was led by founder and managing partner Christian Siegele. Daniel Heer, Stephan Schwebe and Projjol Banerjea co-founded Zeotap, the former being its current CEO.