FOEX Raises Series A Round to Accelerate Growth for its Low-Code Enterprise Development Solution
Swiss-based venture capital firm, BaseTech Ventures AG joins tecnet equity in FOEX's Board of Directors to support the company's growth strategy.
- (1888PressRelease) July 04, 2017 - FOEX GmbH, the Austrian IT company specialized in providing software solutions for Oracle developers has completed a Series A round of financing. BaseTech Ventures AG – a Swiss-based venture capital firm specialized in supporting fintech, internet and technology start-ups from the DACH region, led the investment round with participation from existing investor tecnet equity NÖ Technologiebeteiligungs-Invest GmbH.
The investment round will enable FOEX GmbH to aggressively expand its sales and marketing efforts as well as broaden and accelerate product development. From a technical perspective the company plans to invest in bringing new products to market and improve the existing technological infrastructure which will also support its additional business development activities. FOEX also plans to commit resources and focus primarily on those geographical regions which have shown a continuous growth demand for its main software solution, the FOEX Plugin Framework.
With this funding round a fourth seat will be added to FOEX's Board of Directors and assigned to BaseTech Ventures.
"As a company we are happy to welcome BaseTech Ventures and, together with tecnet equity, work towards providing a great low-code software development tool for the Oracle development community" said Markus Lauda, the Co-CEO of FOEX GmbH.
Peter Raganitsch, the co-founder and Co-CEO of FOEX, later continued: "Having the financial support and domain expertise of BaseTech Ventures will help us execute our vision even more rapidly and broadly, and at the same time enable us to leverage their many years of experience in this industry to improve our solution."
About FOEX GmbH
FOEX GmbH is an Austrian IT company founded in 2012 and based in Perchtoldsdorf (near Vienna, Austria). We are experts in developing plugins & add-ons which enhance the standard Oracle APEX platform, allowing developers to build the best products imaginable without the overheads from traditional software development.
Our mission is to simplify the way enterprise-level applications are being built and provide a robust platform which enables developers to create such applications in a fast, easy and secure way. By using the FOEX Plugin Framework developers can significantly reduce the complexity of developing and maintaining data-heavy web applications, thus lowering IT costs and increasing efficiency.
To learn more about FOEX, please visit http://www.tryfoexnow.com
About tecnet equity
tecnet equity is an Austrian venture capital fund investing in new technology enterprises as well as companies with innovative business ideas through venture capital. As an early-stage investor, tecnet plays an active part in the Austrian start-up landscape for many years.
Active in the areas of information and communication technologies (ICT), life sciences, industrial technologies, material sciences and environmental technologies, tecnet equity is providing venture capital during seed and early stages. The support tecnet provides goes far beyond a financial investment. With personal commitment, an international business network and many years of experience, tecnet support you in making your business successful.
To learn more about tecnet equity, please visit https://www.tecnet.at/en
About BaseTech Ventures
Established in 2012 in Cham, Switzerland, BaseTech Ventures AG focuses on supporting early-stage companies in the German speaking regions (DACH). We help you make your businesses extraordinary so that they can be a part of the distinguished organizations of tomorrow. With us by your side, you will be able to enormously enhance your business through our collective ingenuity and hard work.
To learn more about BaseTech Ventures, please visit https://www.basetechventures.com
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