Ural Venture Fund invests in Fantasy project

Fantasy project that won the Web Ready-2011 in the Best Social Project category has attracted RedButton Capital investment, a Yekaterinburg venture capital fund. The amount and terms of the transaction were not disclosed. The Fund was familiar with the project before the final Web Ready, but talks about possible investments started only after winning the contest.

Fantasy project is working on developing the market of computer programs for children's creativity. The project has great experience working with children and its own educational program, certified by the Russian Board of Education. The project is focused on the international market and creates a system of developing programs that are available both on the computer, online, on mobile devices and Tablet PCs.

Attracted investment will be used for testing various models of product distribution and releasing the mobile version of the basic application Brashechka. At the time of participation in Web Ready, the project was ready to start a prototype version of the browser Brashechka with basic functionality and tools.

In addition, in early 2012 the project received a 500 K RUR grant from the Innovation Centre for small and medium enterprises of the Sverdlovsk region.

Participation in Web Ready helped us in negotiating with the fund - Elena Khramtsova, the manager of Fantasia project says - The main thing we learned is how to tell about your project for a very short time and not to get bogged down in details and how to give enough information to attract the attention of investors.

Winning the competition confirmed that the project team is perspective, and this is the main factor of success - Eugene Sharovarin, the managing partner of RedButton Capital says. - In my opinion the market of developing applications for the Tablet is very promising.