MainMediaLeta GIV invests in photo storage startup BaltoStorage

Leta GIV invests in photo storage startup BaltoStorage

07 June 2012
Leta GIV, the corporate venture arm of Leta Group, announced an investment earlier this week in Baltostorage, an online service that allows users to store their pictures in a secured way.

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.