VC-backed Mister Spex buys Tribe

Prior to the deal, Tribe had implemented its virtual glasses fitting technology for Mister Spex via Instagram in 2020, according to a statement.

According to a report from Bloomberg in January 2021, Mister Spex is considering an IPO in Germany in H1 2021. The report added that the company recorded revenues of €139m and adjusted EBITDA of €2m in 2019.

Grazia first invested in Mister Spex in a series-A round in 2008, following the company's foundation in 2007.

DN Capital and Xchange invested €16m in Mister Spex in 2013. Later that year, existing investors Team Europe and Point Nine Capital sold their stakes in the business to Scottish Equity Partners.

In January 2015, Goldman Sachs led a $40m funding round for Mister Spex, with participation from Scottish Equity Partners, XAnge and DN Capital.

The family office of real estate entrepreneur Albert Büll led a €65m round for Mister Spex in 2019, joined by existing investors including Grazia.

Company
Tribe's software allows users to try on glasses virtually and makes personal recommendations using an AI-based model. The software can also take face and lens measurements for glasses fittings. Tribe was founded in 2017 and is based in Berlin.

People
Mister Spex – Dirk Graber (founder, CEO); Mirko Caspar (managing director).
Tribe – Julian Hölz, Kevin Metka (founder, CEO).
Grazia Equity – Jochen Klüppel (partner).

Advisers
Acquirer – Poellath, Christian Tönies, Gerald Hermann, Sebastian Gerlinger, Markus Döllner, Jesko von Mirbach (legal).

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• Topics
• Portfolio management
• DACH
• Technology
• Build-up
• Germany
• DN Capital
• Goldman Sachs
• Scottish Equity Partners