RDIF investing in car sales, food delivery services with partners
DAVOS. Jan 23 (Interfax) - The Russian Direct Investment Fund (RDIF) has announced a series on investments in Russian internet companies on the sidelines of the World Economic Forum in Davos.
In particular, a consortium of investors including the RDIF, the Baring Vostok fund, and a number of Middle Eastern funds are investing in CarPrice - Russia's leading auto sales service, the RFIF said in a statement.
Funds raised will be directed by the company towards boosting the businesses' growth rate in the Russian regions and development of a platform for corporate clients.
CarPrice.ru was founded in 2014. One of its co-founders, investor Oskar Hartmann, also founded the online retailer KupiVIP. CarPrice specializes on the sale of used cars under an auction model. According to Crunchbase data, the project has been able to raise $48 million since its founding. Investors included Almaz Capital and Baring Vostok.
The RDIF, along with partners from France and the Middle East, is also investing in the Elementaree grocery delivery service.
Elementaree is a service for delivery of groceries and step-by-step recipes for preparation of meals. According to Crunchbase data, the project has raised $3 million in venture capital financing since its founding.
According to SPARK-Interfax data, Olimp LLC, which operates under the Elementaree brand, saw revenue of 130.1 million rubles and profit of 4,000 rubles.
Investments by the RDIF and its partners will make it possible to expand the digitalization of Elementaree services, as well as developing the business in other cities: in 2022, the company plans to enter the markets of Nizhny Novgorod, Kazan, Yekaterinburg and Novosibirsk, the statement said.
Furthermore, the RDIF and its Middle Eastern partners will invest in Travelata - a Russian aggregator of offers from tour operators. The company's model envisages the sale of tour packages online without the participation of a manager. Apart from its digital sales channels, Travelata also has offices in 20 Russian regions.
The RDIF did not disclose the volume of investment in these internet projects in the statement.