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$170m for Skolkovo startups in 2013

0 2 December 2013

In 11 months from January to November 2013 Skolkovo projects raised over $170 million, 80% of which was received from outside sources. 

The figures were announced last week on Skolkovo’s website. The Skolkovo Foundation’s investments director Edward Kanalosh said that, of the $28 million that projects received from Skolkovo itself, around $19 million were grants. 

Kanalosh also drew attention to the biggest deals struck by Skolkovo projects this year. Ostrovok, a hotel booking service, raised $25 million from Frontier Ventures, Accel Partners and General Catalyst, while Dauria, a satellite developer raised $20 million and travel startup OkToGo got $11 million

While big investments often attract the most attention, Kanalosh is most interested not in the total amount raised, but in the number of deals struck by Skolkovo companies. So far in 2013 thirty-one companies have raised outside investment, compared to 18 in 2012. 

While this represents good progress, Skolkovo’s investment director is not resting on his laurels - he says that “Our task is to make sure that next year more than 50 companies get outside funding”.  

Source: RIA Novosti

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