GERMANY – Gruenderfonds Bielfeld-Ostwestfalen closes first investment

e-Capital advised Gruenderfonds Bielefeld-Ostwestfalen has joined KfW and High-Tech Gruenderfonds in investing an undisclosed sum in Divolution – Digital Revolution Technology GmbH. Divolution, based in Detmold, offers web analysis, testing and targeting solutions, enabling clients to gain more information on the interests, needs, and habits of consumers entering webstores without registering. The company employs a staff of 12 and was founded in November 2005.