Having confirmed our earlier report, the German eVenture Capital Partners, the newly created venture capital fund backed by Europe’s largest ecommerce company Otto Group, partner in charge of Ukraine and Russia markets, Uly Wolters has confirmed that eVenture Capital invested in Mapia online mapping and searching service.
Uly Wolters, the partner of eVenture Capital Partners said that the fund invested a substantial six digital EUR amount into Mapia. In addition, Uly Wolters revealed that eVenture Capital committed to invest a second tranche into Mapia’s further expansion over the next year, should Mapia continues its succesful development.
Uly Wolters also believes that besides Mapia successful mapping technology and offering, the investors see a great potential in a new service of a corporate directory/yellow pages with geo-targeting contextual advertising model.
This’s the first investment made by eVenture Capital Partners in Russia/Ukraine internet market.