Project A sells Minodes to Telefonica Next

This is the fifth exit from Project A's first fund, which held a final close on €80m in 2012 and invests in early-stage and expansion deals. The VC's maiden fund made 40 investments in companies including Lost My Name, ZenMate, Tictail, Catawiki, and Kry.

Project A has supported Minodes on an operational level in the areas of product development, IT and marketing, as well as providing two rounds of financing.

Project A recently announced the closing of its second fund on €140m, with a mandate to acquire 10-35% stakes in European technology companies.

Previous funding
In March 2014, Project A held a seed round of funding for Minodes for an undisclosed seven-figure sum. The VC then reinvested to provide further capital in an expansion round alongside Berlin Technology Holding and KfW-Kreditanstalt für Wiederaufbau.

Company
Founded in 2013, Minodes operates an online platform offering data analysis for offline retailers. It is mainly a software-as-a-service solution for retail stores to increase sales performance and improve customers' shopping experience. The firm is based in Berlin.

People
Project A – Thies Sander (partner).
Telefonica Next – Jens Lappoehn (managing director).
Minodes – Alexander Köth (managing director).

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