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Moscow-based VC firm Target Ventures has announced that they have invested ‘several million dollars’ in BABADU, an online retailer specializing in goods for children. The funding will be directed towards marketing and other new projects at the company. The company was created in 2009 and is managed by Natalia Shkirtil and Eugene Charikov. According to Target Ventures, the company has achieved 100% year-over-year growth for each of the past several years.
The Russian market for stores directed at children has heated up this year, with an investment from ru-Net in February of $6 million (4,54 million Euro) in retailer Esky and an investment of $500K (2,27 million Euro) by New York-based investor Black Ocean in Bimbasket, a subscription-based service for parents. Although the exact amount of this latest investment has not been disclosed, it seems that there a good indication that investors continue to feel confident about the prospects of online retailers which cater to parents. BABADU says that they want to become the leader in their market and these recent investments offer an indication that they might need financial help to do so, which they have now obtained.
Target Ventures is new on the investment scene, having only been established in 2013. They state that they are interested in investing in consumer goods-oriented startups and look for opportunities to invest in companies which have the potential to grow by 100% within a year. This becomes only the second investment that they have made, with BABADU joining Russian chocolate and macaron-producer Mixville.
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