MainMarket in brief

Vedomosti

Wowworks platform raised $3.6 million for overseas development

July 9, 2021, 10:25 (UTC+3)|
136

The Wowworks platform, where retail chains and offices look for providers, raised $ 3.6 million from a consortium of investors - DV Capital (founded by ex-top managers of the National Media Group Olga Paskina and Alexey Yanchishin) and the LVL1 fund of VKontakte co-founder Lev Leviev. The consortium of investors will have a minority stake in the company, Vedomosti writes.

Wowworks plans to enter the markets of India and Southeast Asia. In these countries mainly small players with outdated technologies work in this segment, so Wowworks has great prospects for development, Addventure managing partner Maxim Medvedev (one of the first investors) says. In his opinion, the startup is a “future unicorn,” and eventually its value can reach $1 billion.

The startup was founded in 2015 and two years later it raised $1 million in a seed round from the Addventure fund. Later, Wowworks also started to work in the European Union (Germany, Austria, Poland and Hungary). According to the company’ own data, in the first half of 2021 50% of the company’s turnover came from the European market.

Original (in Russian)

Subject:

Share:

Interested In The Russian IT Market? Subscribe!

By clicking the button you agree to Privacy Policy

Unless otherwise stated, the content is available under Creative Commons BY 4.0 license

Supported by the Moscow Government