Ostrovok.ru Raises US$25 Million from Investment Consortium (CEE and CIS)

Source: Kommersant  |  Author: Roman Rozhkov

Global venture capital firm General Catalyst Partners has led a US$25 million investment in Russian online travel services company Ostrovok.ru. The company intends to use the investment to fund the development of new and existing products, including a service to book hotels on partner websites. Additional participants in the financing round included venture capital firms Accel Partners and Frontier Ventures.