Oktogo Raises US$11 Million in New Funding (CEE and CIS)

Source: Oktogo

Russia-based online hotel reservations service Oktogo has raised US$11 million in venture capital funding from VTB Capital, the investment arm of Russia’s VTB Group, France-based Ventech Capital, Luxembourg-based Mangrove Capital Partners and Russian internet entrepreneur Victor Sazhin’s eponymous investment group. Oktogo will use the funds to invest in brand building and regional development in Russia.