Protrada Parent Company Secures $3 Million in Funding

[Deleted member 70408]

Protrada’s parent company, Winged Media, has received a $3 million investment from the Carnegie Innovation Fund, and the investment was the fund’s first venture in the technology sector. The fund is supported by the Australian government and is “an initiative that provides venture capital to innovative companies at seed, start-up or early expansion stage.” Protrada is a company that essentially brings various auction and sales marketplaces into one platform.

Read more about the funding: http://www.elliotsblog.com/protrada-parent-company-secures-3-million-investment-0178

 

[dcristo]

Don't get me wrong, it's great seeing an Australian company being innovative and getting funded, but that seems like a lot of money for a domain name auction aggregator. If they already have the technology, why do they need this amount of funding? Am I missing something?

 

[RTM.net]

Don't get me wrong, it's great seeing an Australian company being innovative and getting funded, but that seems like a lot of money for a domain name auction aggregator. If they already have the technology, why do they need this amount of funding? Am I missing something?

Well, $3M is not too significant considering that it doesn't seem to be angel or early round funding - while it may seem like a lot of cash, it may be to develop even more advanced aggregation & integration with the secondary market auction sites... and keep up with the inevitable changes on the back end of those auction houses.

Rob

 

[Troy Rushton]

Well, $3M is not too significant considering that it doesn't seem to be angel or early round funding - while it may seem like a lot of cash, it may be to develop even more advanced aggregation & integration with the secondary market auction sites... and keep up with the inevitable changes on the back end of those auction houses.

Rob

Rob is correct, there is a roadmap of development work ahead. Protrada currently offers a solution on the aftermarket buying side & we are now focusing on the monetization & selling side. We are also enhancing the recently launched mobile apps (iphone & android) and our monetization platform, parklings, which is integrated into Protrada also. We also have alot of API integration with Afternic, Sedo & brokerage networks for the selling functionality. The $3m investment went into Winged Media & whilst Protrada & parklings are key projects, we have a number of projects underway including a lead generation network & a video shopping site, shoppatube.