Gastrofix raises 8 million euros
The cash point solution provider Gastrofix announced raising eight million euros (8.6 million USD) in a Series B round on Thursday. The round was led by Radeberger, a well-known German brewery. According to Gastrofix’s CEO, Dirk Owerfeldt, the startup stands to benefit from Radeberger’s network. The startup, which offers a cloud-based cash point solution for gastronomy businesses, employs 100 people in Germany, Austria, Switzerland, the Netherlands, Spain and Ireland. The company plans to use the investment to expand the business.
Front Row Society files for bankruptcy
Front Row Society, a crowdfunded fashion startup, quietly filed for bankruptcy in October 2016, despite raising 500,000 euros on Seedmatch. The idea behind Front Row Society (FRS) was for artists and creative types worldwide to showcase their ideas, which would be voted on by the FRS community. FRS later became its own brand and opened up shop in Frankfurt, Germany. It seems that did not work out as planned.