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.

ADVERTISEMENT

Romania PPI Inflation Rises Further in August Analysis

Romania PPI Inflation Rises Further in August

Gov't Mulls Bailout for Dunaferr Government

Gov't Mulls Bailout for Dunaferr

Blue Chip Art and Passion Assets - Claudia Worthington Hess ... Podcasts

Blue Chip Art and Passion Assets - Claudia Worthington Hess ...

Magyar Posta to Close 35 Post Offices in Capital City

Magyar Posta to Close 35 Post Offices in Capital

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.