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Russian startup Penxy, a service which allows for the management and projection of slideshows from iPhones and iPads, announces raising $500K (376K Euro) in new funding from Prostor Capital. We first mentioned Penxy when they participated in the Russian Tech Tour 2013 in April and are now able to report a seed round for the company. In order to find out more about the news and their business, I spoke with Penxy co-founder and CEO Vladimir Platov.
Penxy is a service billed as a challenger to SlideShare in the presentation-management market. Currently available exclusively on iOS, the free service allows users to record a presentation and then to automatically sync the audio to create narrated slideshows. It’s an all-in-one app which allows users to record presentations and create narrated slideshows, enables polls for the audience as well as livestreaming and social sharing.
Platov tells me that they are currently focused on developing partnerships with conference organizers and that, since July, they have supported 11 events, saved 77 records, and generated 5,258 views of presentations. Although the service is currently available solely on iOS, they do plan to develop the service for Android and Windows Phone once they have located the optimal set of features for their product and are ready to scale. Platov says that they will move to raise an A-round at that point in time. Free for now, Penxy will be shifting to a freemium model to generate revenue. They intend to monetize the service by offering an ad-supported free option, pay-as-you-go, and the option of sharing revenue from paid streams and recordings. The company is currently a Skolkovo resident and plans to prove their market strategy going forward and to continue to develop their product based on feedback from customers.
Prostor Capital is a Russian venture fund which was founded in 2011 and has invested millions in services like Dnevnik.ru, Infratel, and VitaPortal. They made news earlier this summer when they raised a new $60 million (45,1 million Euro) fund.
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