PortfoLion invests HUF 300 mln in data mining company
Venture capital fund PortfoLion, a unit of OTP Bank, Hungary's biggest commercial lender, has invested HUF 300m in data mining company Gravity R&D, business daily Világgazdaság reported on Friday.
Gravity R&D owner Docler Holding raised capital in the company by HUF 50m at the same time, the paper said.
Gravity R&D was established by a research scientist and three PhD students in 2007. The company's staff of 40 serve clients in twelve countries.
Gravity R&D got almost HUF 200m in venture capital in 2010 and 2009.
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.