In late June Tel Aviv-based Drippler, which provides personalized recommendations on apps, features, and accessories, announced that it raised $4.5 million in Series A funding which involved two Russia-connected funds – Titanium Investments, which led the round, and TMT Investments.
Also contributing to the capital injection were iAngels, Reuven Agassi, Yanki Margalit, David Assia and Christian Gaiser.
Selected by Google as a Must-Have Play App of 2015, the Drippler app connects people with technology by helping them discover useful features every day. The updated Android app now lets users connect with each other through discussion groups.
“We all have a friend who is the last to know about the latest tech news. Drippler serves as a techy concierge, and analyzes user preferences to supercharge the phone with relevant apps, making it the owner’s trusty companion. With personalized daily notifications users receive tips on everything from recommendations for new apps, to advice on how to conserve battery, and never again have to fear missing out on essential tips,” the company stated.
Drippler claims it doubled its user base and tripled its revenue in the six months leading up to securing funding. Using the Series A funding, the company will invest in further developing its technology and data offerings, as well as building its team in its Tel Aviv headquarters and newly opened San Francisco office.
Israel is a popular destination among Russian investors who seek international opportunities. Among the Russia-connected players having invested in this country are Altair, Flint Capital, Maxfield Capital, Mail.ru Group, Yandex, in addition to Russian billionaires Roman Abramovich and Vyacheslav Mirilashvili with his fund Vaizra.
Launched in 2013, Titanium Investments focuses on mobile marketing/advertising, special social networks, mobile games, online financial services, augmented reality. The fund is seeking startups from Russia, USA, Germany, Israel, Belarus, Ukraine, Spain, Poland and France, in which it intends to invest “$47,867,000 till 2016.” Last year, the fund invested in Wakie, a Russian startup which has developed a social alarm clock.
Founded by the executive management team previously behind RBC, a major Russian financial information holding, and traded on the AIM market of the London Stock Exchange, TMT Investments has raised $30million since its inception in 2010. Having invested in more than 35 Internet-based companies worldwide, the fund stands as one of the most active Russian-backed funds operating internationally. TMT’s latest investment went to Israeli social intelligence platform Klear (formerly known as Twtrland).
