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Israeli fund BRM Capital raises $24 million for American startup Eventra

Startup's flagship product VendorSite faciliates manufacturers-suppliers communication

Israeli VC fund

BRM Capital

led a $24 million investment round for the American startup

Eventra

.

BRM's own investment in the company came to $10 million. Other investors were the American VC fund ABS Ventures and previous investors

Whitney & Co.

and

Connecticut Innovations

.

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Eventra develops and applies Supply Relations Management solutions for the management of raw materials supplier relations during production. The company's flagship product, VendorSite, is a gateway application between manufacturers and suppliers.

VendorSite improves communication between manufacturers and suppliers using tools that enhance the efficacy and co-management of the chain of supply of the products to the manufacturer. This allows companies to reduce the amount of products in stock, to upgrade the accuracy of their forecasts and accelerate their orders turnover.

Eventra was established in Milford, Connecticut in 1998 by a group of American entrepreneurs. The proceeds raised will be used for further technological development, for sales and marketing of the VendorSite and for the extension of its strategic partnerships as part of the company's growth efforts.

Among the company's customers are Fortune 1000 companies such as

Pitney Bowes

,

Duracell

and the bus manufacturing

Blue Bird Corporation

.

BRM Capital is a venture capital fund investing in startups from the seed stage through much more advanced stages. Its main focus is Internet and communication infrastructure companies. Its U.S. headquarters are in New Jersey, and its main offices are in Jerusalem.