RWM Capital Venture Investments was declared the largest investor at the Kazan Startup Week 2014 event, having signed two investment agreements amounting to 500 thousand US dollars in aggregate. The projects OPTEUM and RoadAR will receive investments from RWM Capital. Both projects are residents of IT-Park.
The project OPTEUM is a unique software solution of cloud service for taxi operators and services. This round of investments into the project is required for sales scaling and expansion of the product functionality. In the opinion of specialists of RWM Capital Venture Investments this will allow the project to secure a significant part of the market.
RoadAR is a mobile application for reading traffic signs. The base contains more than 800 signs in the territory of Russia and post-Soviet countries. In future the project team is planning to develop a full-fledged navigator for drivers which will show the route on the display of a Smartphone in augmented reality mode.
“During those ten or fifteen years of oil and gas fueled prosperity our country has managed to produce few things which would be up to the global standards, - says Sergey Orlov, Chairman of the Board of Directors of RWM Capital Investment Group. - IT, programming, presentable startups in this area are a rare exception. It is quite obvious including to a Russian investor and especially now when the national economy is going through rough times.
Wisdom of the republican and Kazan authorizes with all their previous and current initiatives for development of beneficial environment for new talents and IT projects does not fail to impress me. IT-Park and its new undertaking Kazan startup week is one of the examples of the above.
I would like to thank the hosts for invitation to participate in such an important event. On behalf of RWM Capital I signed the investment agreements in the amount exceeding 23 million Rubles or 500 thousand US dollars for two projects created and presented here in the beneficial environment of IT-Part.
OPTEUM is an existing business. The medium-length strategy for us as investors lies in procuring the dividend flow. RoadAR is a very promising project which already has attracted the interest of Google which has seen its use for Google Maps application. We plan to develop cooperation with the Kazan IT-Park and hope to discover new local talented young teams.”
Before closing of the event Sergey Orlov together with the heads of the most active IT development institutions participated in signing of an open letter to the President of the Russian Federation containing a request to declare the 23rd of November the startuper day in Russia.
