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Armenian Granatus Ventures provides total of $600,000 for two projects
YEREVAN, October 8. /ARKA/. Has provided $600,000 and acceleration
support to two projects - SoloLearn mobile learning and Wicastr
digital content distribution, Granatus Ventures reported.
The respective agreements were signed at the seventh ArmTech 2014
congress in New York, according to the report.
According to the agreement, Armenian-British Wicastr content
distribution server using bubble technologies will get $500,000 and
acceleration support.
Co-founder of Wicastr Armin Saidi said the company is planning to use
the funds for completing the development and for marketing.
Yervand Sargsyan partnering with Granatus Ventures said they are
impressed by Wicastr team. Sargsyan expressed hope Armenian developers
will make the team even stronger.
Under the second agreement, Granatus Ventures will provide SoloLearn
mobile learning platform with $100,000 and acceleration support.
SoloLearn co-founder David Kocharyan said the funding will help
improve the platform and attract new users.
Managing partner of Granatus Ventures Manuk Yerghnyan said SoloLearn
is a helpful creativity tool for changing traditional approaches
toward education.
Armenian-American SoloLearn was founded in June 2013 as a mobile
learning platform. Today it offers some 14 interactive and game apps
on software development, business and photography.
Wicastr is a web server that acts as a local internet bubble that
creates hyper-local, private and secure content distribution and
communications.
The first Armenian venture capital firm Granatus Ventures was
registered in 2013 July at the initiative of an Armenian Singaporean
businessman Pierre Hennes. Its Armenian partners are Manuk Yerghnyan,
the head of Economy and Values research center in Yerevan, and a
venture businessman and ex-director of Soros Fund Management in London
Yervand Sargsyan.
Granatus Ventures is expected to make investments in IT startups on a
shared basis (not more than 50%) and then to buy its share back as the
business develops.
The government said it will acquire 9,000 shares of Granatus Ventures
Foundation worth a total of $3.3 million. Private investments in the
capital will amount to $3 million. -0--
http://telecom.arka.am/en/news/business/armenian_granatus_ventures_provides_total_of_600_0 00_for_two_projects/#sthash.dPjii5Vi.dpuf
YEREVAN, October 8. /ARKA/. Has provided $600,000 and acceleration
support to two projects - SoloLearn mobile learning and Wicastr
digital content distribution, Granatus Ventures reported.
The respective agreements were signed at the seventh ArmTech 2014
congress in New York, according to the report.
According to the agreement, Armenian-British Wicastr content
distribution server using bubble technologies will get $500,000 and
acceleration support.
Co-founder of Wicastr Armin Saidi said the company is planning to use
the funds for completing the development and for marketing.
Yervand Sargsyan partnering with Granatus Ventures said they are
impressed by Wicastr team. Sargsyan expressed hope Armenian developers
will make the team even stronger.
Under the second agreement, Granatus Ventures will provide SoloLearn
mobile learning platform with $100,000 and acceleration support.
SoloLearn co-founder David Kocharyan said the funding will help
improve the platform and attract new users.
Managing partner of Granatus Ventures Manuk Yerghnyan said SoloLearn
is a helpful creativity tool for changing traditional approaches
toward education.
Armenian-American SoloLearn was founded in June 2013 as a mobile
learning platform. Today it offers some 14 interactive and game apps
on software development, business and photography.
Wicastr is a web server that acts as a local internet bubble that
creates hyper-local, private and secure content distribution and
communications.
The first Armenian venture capital firm Granatus Ventures was
registered in 2013 July at the initiative of an Armenian Singaporean
businessman Pierre Hennes. Its Armenian partners are Manuk Yerghnyan,
the head of Economy and Values research center in Yerevan, and a
venture businessman and ex-director of Soros Fund Management in London
Yervand Sargsyan.
Granatus Ventures is expected to make investments in IT startups on a
shared basis (not more than 50%) and then to buy its share back as the
business develops.
The government said it will acquire 9,000 shares of Granatus Ventures
Foundation worth a total of $3.3 million. Private investments in the
capital will amount to $3 million. -0--
http://telecom.arka.am/en/news/business/armenian_granatus_ventures_provides_total_of_600_0 00_for_two_projects/#sthash.dPjii5Vi.dpuf