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RIA Novosti reports that Microsoft has invested a total of $160,000 in three Russian startups. The announcement was made by the President of Microsoft Russia, Nikolai Pryanishnikov, who said that the tech giant had provided seed capital to MoosCool, Co-founder and SportFort.
“I hope that this investment will help the companies move from idea to prototype, and then on to both Russian international markets,” said Pryanishnikov.
The MoosCool project, which received $70,000 from Microsoft, is a music service that allows the free distribution of electronic dance music to fans and friends by composers. SportFort and Co-founder attracted $40,000 and $50,000 from the foundation, respectively. Co-founder is developing a service called Car-Fin, which allows users to compare leasing and loan terms from different banks when buying a car. SportFort will provide specialized software to athletes, sports organizations and other members of the sports community to help them create websites.
According to Pryanishnikov, the Microsoft Foundation has given support to more than 20 companies, with total investments worth nearly $1million. The foundation has been investing in Russian start-ups since 2010. Over the next ten years, the foundation plans to provide financial support and expertise to about 100 Russian startups.