TMT Investments, a UK-headquartered venture fund backed by Russian businessmen, announced last week that it has invested $1 million in mobile advertising network Adinch in exchange for a 20% stake.
Adinch has developed a “universal self-service mobile advertising platform,” enabling advertisers to organize campaigns on iOS and Android mobile devices and developers to monetize their mobile apps and websites.
The startup claims it currently serves 2.5 million monthly unique users.
Incorporated in Delaware last year, Adinch has offices in San Francisco, Moscow and Kiev. The startup was co-founded by Alexey Semakin (CEO) and Andrey Semakin (CTO), both graduates from the Moscow Engineering Physics Institute.
Previously, the Semakin brothers co-founded Pochta.ru, a Russian webmail service, and developed a number of mobile applications.
TMT is owned by German Kaplun, Alexander Morgulchik, and Artyom Inyutin, the founders of the large Russian media holding RBC back in 1993.
In late 2010, the fund was introduced on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange.
Last year, TMT invested in a US online backup provider, an Estonian business software publisher, and in Virool, a Russian-American startup developing a self-service video network. TMT is also planning to launch a major business incubator in Moscow.
