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TMT Investments injects $200k into Israeli project Drippler

0 13 May 2014

London-based Russian fund TMT-Investments has invested $200,000 in Israeli project Drippler, a service that helps people get the most out of their gadgets.

The project, which covers a range of mobile devices, applications, software operating systems and games, sends users a daily email with tips about how to better exploit their tech. Its partners include Asus, Samsung, Verizon and At&T.

Last year its app was downloaded more than 7 million times, it was ranked in Google Play’s Top list and it was featured by Mashable and Gizmodo.  

Artem Inyutin, TMT Investment’s investment director, commented that

“There are lots of gadget overviews out there, but it isn’t always possible to find information about the best apps for your device quickly. Drippler is a great product, because it provides all the up-to-date information you need to know about your device.”

This is TMT's second investment in Israeli projects since its team paid a visit to the country in search of promising startups. It previously invested an undisclosed sum in Easy to Connect (E2C), which makes smartphones for the elderly. 

Inyutin added that:

“In Israel you rarely find projects that demand sky-high prices. In Russia inaccurate valuations are everywhere. Sometimes companies use discounted cash flow method to come up with enormous sums. 

Furthermore, Israeli startups have excellent team politics. The founder doesn’t always aim to run the project, and often a different person takes on the role of CEO.”

However, this has stopped the fund investing in Russian projects. It recently funded Oriense, a St-Petersburg based project creating a navigation system for the visually impaired.

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