MFB supports local startup with USD 1.2 mln injection

Telco

Corvinus Kockázati Tőkealapkezelő, the venture capital managing unit of Hungarian state-owned MFB Group, has injected venture capital of USD 1.2 million into local data analytics startup VirtDB, the startup announced on Friday.     

VirtDB, which is a spin-off set up by big data and BI consultant Starschema, is planning to generate turnover of less than HUF 10 mln this year, its first year of operation, but expects sales in excess of HUF 100 mln in 2017, Hungarian news agency MTI reported. 

Starschema, which contributed to VirtDBʼs initial capital with HUF 100 mln, is planning sales of HUF 2 billion this year after HUF 1.2 bln last year.

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