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Tech Industry

Demantra rakes in $16 million

Demantra, a maker of marketing and inventory planning software, said Monday that it has raised $16 million in a second round of venture capital financing. Private equity firm Advent International led the round, with further investments from agricultural giant Cargill and Intel. Cambridge, Mass.-based Demantra, founded in 1996, sells software to manufacturers of consumer products, pharmaceuticals, medical devices and industrial products. The privately held company said it grew revenue and turned a profit in both the third and fourth quarters of 2002.