Being one of the fastest-growing economies of the Russian internet, the online travel market in Russia is set to increase to $7 billion in 2012, according to PhoCusWright (via CNews). Two of the Russian online travel agencies (OTAs) have just revealed new funding rounds.
The Russian online hotel booking site Oktogo.ru is receiving a new round, reported business newspaper RBC Daily. The new investor is going to put $6 million into the round. The existing investors such as VTB Capital and Mangrove Capital Partners also participate. Operating the largest online database of hotels in Russia, Oktogo.ru strives to capture the Russian customers travelling domestically and abroad. Launched in 2010, Oktogo.ru raised $10 million in March 2012.
The online aggregator of package tours Travelata has got new funds from the Czech online travel agency invia.cz investor MCI of Poland. MCI recently invested $15.5 million in the Russian e-commerce group KupiVIP. The new investment was revealed in a recent interview. Travelata, which is similar to Jetsetter, was launched in 2011.