Leta GIV invests in photo storage startup BaltoStorage
The fund invested $350,000 for an undisclosed stake in the company.
BaltoStorage claims it already stores more than 1.7 million files from 50,000 registered users, just three months after launch. A distinctive advantage, according to the startup, is that users are provided with easy access to their files from any device.
The service is offered at no charge for a storage volume of 2 Gb or less, and up to 4,790 rubles per year (approximately $147) for up to 100 Gb.
A prominent Russian IT security holding, Leta Group launched its venture fund last month. Its first investment went to Displair, an award-winning interactive air screen maker.
Leta GIV plans to invest up to $10 million each year in three or four early stage companies with global potential.