East-West Digital News
Last week Leta Capital, the venture arm of Russian IT security solution provider Leta Group, and TMT Investments, a UK-headquartered venture fund backed by Russian businessmen, announced a $1 million investment in Californian startup rollApp.
RollApp provides a software-on-demand service designed to instantly deliver existing third-party software applications to any web-browser-equipped device with broadband/3G.
The service aims at allowing end-users to launch virtually any such application in the “cloud” and then use it inside a standard web-browser.
TMT initially invested $350,000 in rollApp in August 2011. This fund, which is listed on the London Stock Exchange, has recently invested in self-service video network Virool, mobile advertising network Adinch, and Graphicly, an online service for publishers.
Launched last year, Leta Capital has invested in Displair, Baltostorage and Budist. RollApp is Leta’s first investment outside Russia.
This story first appeared in East-West Digital News, a leading online resource on Russian digital industries.