Capnamic Ventures has sold its shares in data privacy company Statice to PwC Germany.
The exit was part of a growth financing round from PwC Germany, which acquired a minority stake which nears 50%.
With the funds, Germany-based Statice hopes to continue its expansion efforts.
Founded in 2018, Statice helps companies to generate value from their data, whilst maintaining privacy. Its AI-powered software does not contain any original data helping to maintain compliance when generating insights.
Its services are aimed at financial services, insurance and healthcare companies.
Statice CEO Omar Ali Fdal said, “We founded Statice on the belief that organizations would need to break out data silos to remain innovative, but that modern enterprise security and data protection constraints would complicate this transformation.”
Capnamic Ventures general partner Jörg Binnenbrücker said, “It’s great to see that the Statice team has reached this unparalleled milestone due to their outstanding product and hard work. By partnering with PwC Germany, the team has found a perfect strategic fit to accelerate the growth of the company.”
Copyright © 2021 AltAssets