North West | Technology & innovation | Finance, business
Ingria resident RubicPro raises $50,000 from Xmas Ventures
4 Aug '11
IT and telecom company RubicPro, a resident of St. Petersburg Business-Incubator Ingria, has raised $50,000 pre-seed investment from venture fund Xmas Ventures, the Business-Incubator Ingria reports.
The raised funds are reportedly to be spent on development of the project Web-Notifier – a platform that delivers instant information messages to mobile operators’ recipients directly into the web-browser window without installation of client software. According to the product authors, the messages can contain information on the phone credit and the phone number, current tariff plan, new services and tariffs, as well as advertisement content.
Under plans, the funds are to be invested into expansion of the company’s products distribution system and development of new products based on the platform. The instrument has already been used in the test zone of one of mobile operators in the “top-three”. Projects are also being implemented in other three large telecommunication companies.
The installed product allows all users of mobile Internet to see their credit and manage services from a widget popping up on top of windows in the web-browser, at any time without visiting the operator’s website. The widget can work in any browser in any operation system, including mobile devices. The solution is applicable in any networks, including 3G, 4G, wi-fi and fixed communication.
“When it entered Ingria, the project caused interest of several investors straight away. Together with the head of the company we have corrected the business-plan, completed the financial model, approved the strategy of entering the first markets,” Dmitry Stepkin, the project coordinator in Business-Incubator Ingria, said.
According to Victor Yarutov, the shareholder in Xmas Ventures, the project team and its idea have received a high evaluation mark from the investor. “It is important that the ides has already been tested by the first customers and has received positive feedback. One of the next steps is entering foreign markets,” he added.
Sergey Nesmachny, the director on development and the co-owner of RubicPro, said, “Our company has big plans on the new products and entering Western markets. We expect that raised investment is to help us do first sales abroad and start building partner network by the end of this year.”