Cipio Partners-backed German sports equipment retailer 21sportsgroup has raised an additional €15m from ESO Capital.
The funding tops up an eight-digit round from a consortium of investors, announced in May. The startup did not reveal its investors, but according to news website Gruenderszene, regional bank Landeskreditbank Baden-Württemberg was among them.
The startup bought its competitors Planet Sports and Mysportsgroup in March 2015 and January 2016, respectively. Following the latest financing round, the company hopes to further expand through Europe and to acquire more competitors.
In January 2016, Cipio provided a round of growth capital to 21sportsgroup.
Founded in 2010 and based in Mannheim, 21sportsgroup sells sports and outdoor products online. Its product range includes running shoes, bicycles, and accessories for runners, cyclists and triathletes. The shop is active in Germany, Austria, Switzerland, France, Benelux, Italy and Spain.
21sportsgroup – Michael Burk (CEO).
Round is one of the largest venture capital deals in Germany this year
Berthoux and Desmottes join as operating partners, while Philips becomes a strategic partner
Vitrulan has acquired the business for its broader product range and to expand internationally
Fondoposte is looking to gain exposure to buyout and growth private equity funds