Tengelmann Ventures and HV Holtzbrinck Ventures have sold their entire shareholding in kitchenware retailer Springlane to its founder.
Tengelmann Ventures, the corporate venture capital arm of retailer Tengelmann, has sold its 15.5% stake in Germany-based kitchenware e-commerce platform Springlane to co-founder Marius Fritzsche, Deutsche Startups reported today.
VC firm HV Holtzbrinck has similarly sold its 12% shareholding to Fritzsche. The size of their exits and the valuation of Springlane have not been disclosed.
Founded in 2012, Springlane operates an online shop that initially sold third-party products before pivoting to focus solely on own-brand kitchenware, such as ice cream…
