OXO Technologies to invest in Hungarian software developer Oriana Group

By bne IntelliNews September 23, 2021

BSE-Listed holding company OXO Technologies wants to be the lead investor in Oriana's next funding round, contributing up to €1.5mn of a €3.5mn total investment, clearing the way for the company's further expansion in Europe.

The company will start due diligence at Oriana and coordinate a consortium of investors.

OXO Technologies noted that analysts predict5 a compound annual growth rate up to 30% on the low-code/no-code development market in the coming ten years.

Budapest-based Oriana is a B2B-focused low-code/no-code development platform designed for building enterprise service management systems. Thanks to this platform, OXO believes it is cheaper and faster to create various enterprise applications without in-depth programming knowledge. Oriana had revenue of about €2.6mn last year.

Hiventures, the venture capital arm of the state-owned development bank MFB was an early investor in Oriana.

Trading with OXO’s shares began on the Budapest Stock Exchange’s Xtend market this week. The company invests between €100,000 and €3mn in innovative Central European companies in the early and growth phases. Its portfolio includes startups delivering business solutions, cloud-based services, cybersecurity, cleantech, fintech, agritech, med-tech and developers of AI and big data technology.

 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EU, Uzbekistan forge partnership aiming to pave way for critical raw material supplies

The European Union on April 5 signed a memorandum of understanding (MoU) with Uzbekistan ... more

Brand Finance releases ranking of Uzbekistan's Top 20 most valuable brands

London-headquartered brand valuation consultancy Brand Finance has released its latest list of the 20 most valuable domestic brands in Uzbekistan. Leading the pack is Uztelecom, with a brand ... more

Kazakhstan and Uzbekistan’s combined IT exports surpass $800mn

Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    5 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    5 days ago
  4. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    6 days ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    19 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss