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Runa Capital invests USD2m in Russian mobile software startup

Runa Capital, a new Russian venture capital fund, has made its first investment of USD2m in OnAir3G, a voice-enabled mobile social networking platform.

Moscow-based OnAir3G is a start-up founded by online and mobile pioneer Andrey Vasilevsky who also co-founded SmartCom, a developer of navigation software for Symbian, Windows Mobile and J2ME.

It is Runa Capital’s first investment since launching in August 2010 with the goal of offering USD30m in seed financing to start-ups in rapid growth tech sectors. These include cloud computing, machine learning, virtualisation and mobile and internet applications.

"There is a huge amount of innovation happening in the ever-expanding market for mobile software. This is why it is critical to ensure that promising start-ups are given the opportunity to accelerate their entry into this space," says Dmitry Chikhachev, managing partner of Runa Capital. "The team at OnAirG has been involved in some pioneering work in both mobile software and Internet-based services. This is why we are extremely excited to be a part of what may well be the next killer mobile application."

"The current economic climate poses a number of challenges for start-ups, particularly when it comes to bringing new innovations to market," adds Vasilevsky. "In a short space of time Runa Capital has been able to bring to bear its significant expertise in the world stage to help accelerate our plans and ambition for success. We are very proud to be named the first investment opportunity from this exciting new venture capital fund."

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