Central regions | Technology & innovation | Finance, business
Yury Milner invested into US startup Flotype
11 Jan '12
American startup Flotype has raised $1.4m from Yury Milner, a Russian venture investor, co-owner of Mail.ru Group, as well as the fund Salesforce, the incubator Y Combinator, and two other partners, reports.
The company is engaged in development of simplified technologies of instant messages for mobile applications. The raised investment will be spent on development of new products and marketing.
The young company Flotype develops universal protocols that allow messengers to exchange data between themselves more efficiently. Darshan Shankar, the founder and director general of the company, noticed that the first Flotype product named Most, scheduled to be launched in Q1 2012, will allow to establish real-time connection between any server, any device, on any platform – iOS, Android or Windows.
According to developers, the technology does not require installation and long tuning of software, which allows fast and cheap integration. The company’s business-model assumes charging subscription fees from client-companies, Mr, Shankar said.
DST Global assured RBC Daily that this was Mr. Milner’s personal investment, unrelated to the group’s financial activity. The company would not provide further details.