Germany-based online auction house Auctionata has raised $20.2m for global expansion of its live online art, antiques and collectibles auctions from Earlybird Venture Capital.

Earlybird joins a team of investors that includes Bright Capital, the corporate-backed venture firm and eVenture Capital Partners, which is backed by Germany-based retailer the Otto Group.

Kite Ventures, HV Holtzbrinck Ventures and the Raffay Group have also backed the Berlin-based start-up.

Auctionata, which will auction Egon Schiele’s watercolour ‘Reclining Woman’ with a starting price of $1.5m on 21 June, will use the funds for business expansion, recruiting and technology platform growth.

Christian Nagel, co-founder and partner of Earlybird, said: “We look for companies with the potential to be global market leaders. Auctionata sells objects that attract interest worldwide – up to and including the level of Egon Schiele. No other online vendor serves this market segment.”

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