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Hotel booking service Ostrovok raises another $12 million

0 18 June 2014

Online hotel booking service Ostrovok has raised another $12 million in a round led by Vaizra Capital, bringing total investment in the project to more than $50 million.  

The fund, which belongs to VK.com co-founders Vyacheslav Mirilashvili and Lev Leviev, joins a group of more than 20 investors to have backed the project. It is known that a number of the project’s previous investors also took part in the round, while the company also announced that one of its first backers, Fritz Demopoulos, has been added to the board.

The round will be used to expand Ostrovok’s database, which currently features 250,000 hotels around the world, and to improve the startup’s products and services. 

Vaizra Capital's Lev Leviev commented that 

“Ostrovok has made significant progress with its product development, allowing it to compete successfully with global leaders in the industry. We were impressed by the team’s drive to improve the level of service offered to each individual client. Ostrovok’s long term plans have our full support and we believe in the project’s management team.”

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