Ostrovok raises $12 million in latest round, brings total to $50 million
Russian online hotel booking agency Ostrovok has added to its investment coffers with a further $12 million in capital.
The latest injection was led by Vaizra Capital Russia and sees the co-founder of Chinese metasearch engine Qunar and an early investor in Ostrovok, Fritz Demopoulos, join the Moscow-based company’s board of directors.
The Vaizra fund is supported by Vyacheslav Mirilashvili and Lev Leviev, co-founders of Vkontakte, Russia’s largest social network.
The $12 million comes 15 months after a massive $25 million financing in early-2013 led by General Catalyst Partners.