MainMediaSocial alarm service Wakie secures $2 million from LETA Capital

Social alarm service Wakie secures $2 million from LETA Capital

28 June 2012
Wakie secured its Series A round of financing from LETA Capital, the corporate venture arm of Leta Group. 

The fund has injected “a little more than $2 million” based on a pre-money valuation of “approximately $7 million,” said Senior Investment Manager Sergey Toporov in an exchange with East-West Digital News.

The investment will be used for the startup’s international expansion, starting with localization in English, Spanish, and Chinese languages, Wakie founder Grachik Adzhamyan told EWDN. The startup is ready to team up with telecommunication partners in different countries to provide VoIP and SMS services, he added.

The service has been deployed across Russia since September 2011, a few months after its inception. Wakie claims to have served over 700,000 users to date, with an audience increasing by 10% every week.

Wakie won the ‘Startup of the year’ award at the Runet Prize competition and walked away with the first prize at a Startup Monthly competition in the US.

The startup received initial funding from a group of angel investors last summer, before getting a $25,000 grant from ‘Start Fellow,’ the grant project of Yuri Milner and Pavel Durov.