Russian startup DisplAir attracted $1M from LETA Capital
24 May 2012Venture Fund LETACapital in conjunction with several private investors have signed an agreement to invest $1M in Russian startup DisplAir, which develops interactive nonscreen display that creates a full color physically permeable image in the air. It can be controlled either by a single touch or in the mode of multi-touch.
Cnews.ru reports on this Venture news.
DisplAir’s product launching is planned for autumn 2012.
To date, DisplAir that was founded in 2009, is a resident of Skolkovo and Kazan IT park. The total value of the company is $ 6 M. The company does not disclose the share of fraction given to investors.
Private investors who invested in the project are Esther Dyson business angel who is a member of the Yandex board of directors and the president of the EDventure Holdings venture fund; Pierre Vibert; CFO at Rasec Vostok; Alex Kichaykin, the Director of Renaissance Capital Corporate Finance Department; Igor Pichugin, the head of RVC affiliate programs and others.
The parties do not disclose the terms of the transaction, but Leta reports that its investment represents the best part of the package. In February 2012, when DisplAir reported a seed round financing, it offered first investors to join the share capital of the company at a discounted price. They say in LETA that the second round financing to take place in late 2012 and it is expected that the company will receive funds from other institutional investors by that time.