iiko, a major Russian HORECA software publisher, is holding discussions with investment funds in an effort to attract as much as $10 million, said Roman Abramov, the company’s general manager, in an exchange with Russian business daily RBC Daily.
“We need financing to expand our activities in Asia and Central Europe as well as to develop iiko.net, our customer loyalty system,” he explained.
iiko was founded in 2005 by Russian entrepreneurs Maxim Nalskyi and David Yan. The latter also founded ABBYY, a world-renowned Russian provider of document conversion. In 2007, the company attracted important funding from Troika Dialog. It has its developpment center is in Kazan, in the Republic of Tatarstan, and offices in Kazan and in Moscow.
The firm’s software products are designed mainly for restaurants and hotels. The iikoRMS suite includes a module to increase service speed and accuracy, manage finances and inventories, enhance HR processses, and prevent staff errors and fraud.
Another product, iikoChain, helps restaurant chain owners manage cashflow, analyze performance, plan production, track scheduling and payroll, and improve other processes in each of their restaurants.
