Memox secures €2.8 million in Series A funding

PropTech company Memox successfully secures €2.8 million in a Series A financing round led by Swiss Prime Site and 41 Group. Memox intends to use the capital to expand its presence in the DACH region and reach break-even by 2024.

Zurich - Memox, a Zurich-based PropTech company, has successfully raised €2.8 million in a Series A financing round. The main investors in this round are Swiss Prime Site, 41 Group and other key players from the real estate, technology and investment banking sectors.

Memox specializes in designing meeting and conference spaces for business organizations in the post-pandemic era. The company provides creative space designs and high-end technology equipment to create an environment that fosters innovation and efficient communication. The funds raised will be used to expand Memox's presence in the DACH region (Germany, Austria, Switzerland) and to pursue its goal of breaking even by 2024.

Further financing round planned

Memox is already planning a second round of financing to fund further expansion in Germany and Switzerland. Given the current developments in the employment and real estate industries, Memox is well positioned to serve the market.

Dr. Dirk Reiner, CEO of Memox

Following the launch of 14 new spaces in the first half of 2023, Memox now has a total of 31 spaces in 6 locations in 3 cities, namely Zurich, Basel and Frankfurt. All locations are profitable and generate annual revenues of more than 7 million euros. It is worth noting that 95% of DAX and SMI companies use Memox's meeting and conference services.