East-West Digital News 24 October 2012
Russian HORECA software publisher iiko has finally secured the funds it had been seeking for nearly one year. The funds have been provided by Russian tech fund Leader Innovations, Russian business daily Vedomosti reported on Monday, citing the iiko’s General Director Roman Abramov.
The $10 million investment will be released in two tranches, including $6 million made available immediately and $4 million possibly injected within one year, Vedomosti reported from an unnamed “source close to the deal.”
The company has been valued at $16 million, according to that same source, with Leader Innovations receiving more than 25% of its shares.
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