While venture funds are springing up in Moscow, one small fund in particular should not go unnoticed. Established just two months ago, Cloud4Auto focuses specifically on automotive technologies – a unique case in the world, the Chairman of the fund’s Supervisory Board, Innokenty Belotsky, told East West Digital News.
“Cars are a very important part of people’s lives. Therefore the businesses around cars will always have an important potential. We believe that information technologies can significantly change the ways cars are sold and serviced. That’s why we are so excited about our industry focus,” Belotsky exclaimed.
Cloud4Auto recently announced its first investment: a $270,000 capital injection in ‘Bright Box,’ a Moscow-based startup developing mobile technologies for the automotive business with international ambitions. The fund got a 51% stake, Belotsky told EWDN.
Cloud4auto’s money will allow Bright Box to bring one of its products, DealerMobility, to the market. This universal mobile platform is designed to enhance communications between automotive dealers and their clients with the help of an application for smartphones.
The company plans to expand its business in Russia and abroad, as well as to introduce other innovative products to the market.
