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Short Take: InterWorld raises $12.5 million

InterWorld Technology Ventures, a maker of electronic commerce software, has raised $12.5 million in venture capital financing. Investors include a group affiliated with Soros Fund Management, Invemed Associates, Global Retail Partners, and Comdisco. InterWorld said it will use the funds to finance continued growth. The company is building e-commerce software designed to compete with products from Open Market and BroadVision.