Memox acquires 2.8 million euros
The proptech Memox has been able to acquire 2.8 million euros in a Series A financing round. With the capital increase, the company for the organisation of congresses and events wants to expand its market in German-speaking countries.
Proptech company Memox has successfully closed a Series A financing round, raising €2.8 million in capital. According to a media release, the financing round was led by Swiss Prime Site and 41 Group as well as other key players from the real estate, technology and investment banking sectors. Zurich-based Memox intends to use the sum raised to expand its positions in the so-called DACH region.
Memox specialises in the design of meeting and conference rooms as well as the organisation of conferences in the business world. In doing so, experience as well as innovations after the Corona pandemic have been incorporated into Memox’s offers. Following the successful launch of 14 new rooms in the first half of 2023, Memox’s portfolio now comprises a total of 31 rooms in six locations in three cities. Memox is now active in Zurich, Basel and Frankfurt. The company’s operations currently generate annual revenues of €7 million, Memox announced in the statement.
“Memox is already preparing a second round of financing to fund further market entries in Germany and Switzerland,” Dirk Reiner, CEO at Memox, is quoted as saying in the release. “With the current trends in the working world and in the real estate environment, Memox is ideally positioned to conquer the market.”