Ottonova opts for Tengelmann to secure new financing

Mar 27, 2017 • Thierry Heles

Tengelmann has supported a $16.2m round for insurance technology developer Ottonova, which previously attracted capital from another corporate, Vorwerk.

Germany-based insurance technology producer Ottonova has raised €15m ($16.2m) in a funding round that included Tengelmann Ventures, the corporate venturing arm of retailer Tengelmann, GoingPublic has reported.

The round also featured venture capital firms B-to-V and STS Ventures. Ottonova has reportedly raised a total of €20m to date, VC firm Holtzbrinck Ventures having provided an undisclosed amount of funding in June 2016.

Founded in 2015, Ottonova is developing a digital private health insurance product that it hopes to launch in…

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