TMT Investments injects $350,000 into US e-publishing startup
TMT Investments, a UK-headquartered venture fund backed by Russian businessmen, has invested $350,000 in Graphicly, a US startup that helps publishers and self-published authors produce and distribute text and visual content on major digital publishing platforms.
Graphicly’s self-service online toolset has been designed to reduce publishers’ go-to-market and ongoing costs. Once uploaded, Graphicly distributes the publications on all major platforms, including Kindle, iOS, NOOK, and Facebook.
The startup, which is incorporated in Delaware and headquartered in Palo Alto, California, claims to have attracted over 6,000 publishers to date. Its net loss still exceeded $1.6 million last year, TMT indicated.
Graphicly’s early investors include TechStars, 500Startups, Mercury Fund, Tim Draper, Dundee Venture Capital and Lowercase Capital.
TMT is owned by German Kaplun, Alexander Morgulchik, and Artyom Inyutin, the founders of the large Russian media holding RBC back in 1993.
In late 2010, the fund was introduced on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange.
Last year, TMT invested in a US online backup provider, an Estonian business software publisher, and in Virool, a Russian-American startup developing a self-service video network. Its latest investment went to mobile advertising network Adinch.
The fund is also planning to launch a major business incubator in Moscow.