Earlier this month two Russian startups – the city guide Voxxter and the online event listings service 2do2go – each received “from $250,000 to $450,000” from the Internet Initiatives Development Fund (FRII in Russian), a $200 million seed and early-stage fund launched one year ago.
Voxxter intends to use the funds for technical development, broadening its service provider base, and to create new products. 2do2go will use its funding for CRM development, the expansion of its presence in other regions, and the development of user services. According to the owner of 2do2go Feodor Zhernovy: “If everything goes according to plan, we intend to expand into the English speaking market.”
Voxxter is a city guide for tourists which provides information about cultural and entertainment options in the city. It offers information about museums, galleries, exhibitions, festivals, and offers themed itineraries. During its acceleration Voxxter increased sales tenfold.
2do2go is a media platform which helps local businesses (site owners or event organisers) to access their target audience via direct and indirect contact with potential clients. According to FRII, 2do2go increased its profits fourfold during acceleration from 100,000 to 400,000 rubles per month, with the number of people visiting the site doubling from 300,000 people per month to 600,000. The project also expanded its presence geographically, and now works with partners from 30 Russian cities.
Source: RBC Innovations
