The Prague-based online marketplace for used books, Bookbot has announced a €4 million Series A investment round, which is led by Genesis Growth Equity Fund I and includes Miton, its existing shareholder. This financing will help the business expand faster in the DACH sector, as it brings the startup's total valuation to €20 million, the Recursive reports.

About Bookbot

  • Bookbot was founded in 2019 by Dominik Gazdoš, CEO, and David Gazdoš, CTO, and is now the biggest seller of second-hand books in the Czech Republic. The platform’s business model allows users to both sell and buy books.

  • According to the company's data, over 5 million books have been sold since the launch of the platform. Over 750,000 books have been submitted to Bookbot's warehouse by consumers since its recent market launch in the DACH region.

  • The company expanded to Slovakia in 2022, followed by Austria and Germany in 2023.

Bookbot also allows customers in Vienna and Berlin to donate used books via two methods: they can either drop them off at partner stores (Thalia) or arrange for home pick-ups by using Bookbot's "Book-Bote" service, which is partnered with DODO.

Investment details

The round was led by Genesis Growth Equity Fund I, a Czech buyout fund managed by Genesis Capital. The fund, which invests in Slovakian and Czech startups, is also based in Prague, Czech Republic. It targets companies with revenues up to €15 million and EBITDA values up to €2 million, and invests between €1 million and €4 million in them.

The investment was also joined by Miton, a venture capital firm founded in 2000 and based in Jablonec nad Nisou, Czech Republic. The firm seeks to invest in early-stage technology companies and support the founders from the initial steps in the industry.

By the end of 2024, Bookbot expects its revenue to have doubled to €24 million year over year. In just two years after its debut, the DACH market is predicted to account for half of the company's entire income. The additional funds will be utilised to expand the community even more.