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Austrian media firm Russmedia has built a 25 percent stake in the start-up Brutkasten Media GmbH after participating in an investment round through its venture capital arm Russmedia International.

Brutkasten Media received in total €1.25 million ($ 1.6 million U.S.) from the lead investor Russmedia as well as other investors, including the fintech company Bitpanda, the CEO of Magenta Telekom Andreas Bierwirth and the investment firms 8eyes and Sweet Ventures.

The latest investment round will enable the firm to scale-up its business in 2019. “We invest in our web, video and podcast products as well as new technologies. Based on our data and the market feedback, we will develop new software solutions,” the CEO of Brutkasten Media Dejan Jovicevic said.

The executives took over the company last year in a management buyout transaction from the Styria Media Group AG.

After the transaction, Brutkasten acquired StartingUp, a German publication focusing on start-ups and the digital economy, and its online platform offering advisory services for young companies Grundberater.de, in order to expand in the DACH region.

“Brutkasten has so far financed itself purely from the cash flow and has thus proven that it can grow organically. Through smart acquisitions and the expansion of the product, it reinforces the core media product and make it scalable,” said the Managing Director of Russmedia International Eugen B. Russ.

Brutkasten Media is a media and technology company that operates a website covering start-ups, the digital economy and innovation, in particular in Austria, and a job platform. Russmedia International invests in marketplaces, aggregators and e-commerce solutions across Europe.