Contorion, a Berlin, Germany-based online industrial retailer, raised an additional funding as a part of a Series B round.
In total, the company received a double digit million Euro sum in the round.
Investment fund Endeit Capital, which joined kloeckner.v, the investment vehicle of Klöckner & Co SE, and existing investors Project A Ventures and Bauer Venture Partners in July 2016.
The company intends to use the funds for the continued expansion into new product groups, scale domestic sales and marketing activities, enhance customer segmentation and data analytics capabilities, as well as develop proprietary customer offers and other innovations.
Launched in August 2014 by Tobias Tschötsch, Managing Director and co-founder, Contorion offers an online platform to sell maintenance, repair & operations (“MRO”) products to small and midsized manufacturing businesses and craftsmen.
The assortment includes more than 300.000 industrial products in different categories, e.g. power & hand tools, work safety, fasteners and workshop equipment.
The company is serving more than 150.000 customers in Germany and Austria and is employing about 100 team members.