Central regions | Technology & innovation | Retail, FMCG
Online sports retailer Heverest.ru raises another $4.3m
13 Feb '12
Heverest.ru, an online hypermarket of goods for sports and leisure, has raised $4.3m in a new investment round, innovation and venture news source UNOVA reports citing Fast Lane Ventures. Fast Lane Ventures launched Heverest.ru in June 2011.
Most of funding was reportedly provided by one of Russia's leading investment funds. Venture fund eVenture Capital Partners, a previous investor into Heverest.ru, also participated in this round.
By now the online retailer raised a total of $6.7m.
Under plans, Heverest.ru will spend the new funds on the expansion of its product range, development of customer services, and improvement of its customer service. Part of the funds will be put up to promote the store's brand marketing.
Heverest.ru is Fast Lane Ventures' second resource in the e-commerce sector. Over a seven months' time the company has collected over 6,000 kinds of goods from 150 leading global sports and leisure product suppliers, such as Solomon, Nike, Columbia, Adidas, Reebok, Puma, Speedo and Rider.
The web portal has 600,000 monthly users.
“The company’s goal is to become the absolute leader in online retailing of sports and active leisure goods. Heverest.ru is the first online resource to sell goods for all kinds of sports and active leisure in Russia. We want to improve the situation by joining a club of most successful start-ups in Russia's e-commerce market, such as Utinet, KUPIVIP, SAPATO and others,” said Vladimir Kim, managing director, Heverest.ru.
According to research agency RuMetrika, turnover in Russia's sports goods market in 2010 totaled $6bn. Fast Lane Ventures forecasts a rise to $12bn by 2015.