Get all the tech funding news of the day delivered straight to your mailbox! Sign up for Funding Daily and never miss a deal.
The big funding story today was Skolkovo, a massive tech hub about 12 miles outside of Moscow. The Russian government is throwing billions into the site to stimulate the country’s startup scene. Back here in Silicon Valley, on a typically slow Friday for funding news, we have a mobile video and a productivity app closing their seed rounds. Enjoy your weekend!
Russia investing $4B in ‘innovation city’ Skolkovo to inseminate startup culture
Skolkovo is a science park outside of Moscow that aims to be the “Russian Silicon Valley.” It is the country’s largest state-sponsored innovation hub, and will receive around $4 billion in state funding between now and 2020. It consists of a business school, office space of hundreds of startups and thousands of scientists, and corporate R&D centers. Skolkovo Foundation president Viktor Vekselberg said he expects to raise more than $11 billion in private investment by 2020 and that Skolkovo will not need government financing after 2025. Read more on VentureBeat.
Videolicious licks up $2.25M for mobile videos
Videolicious has raised $2.25 million for its app that lets you create high-quality videos on your smartphone. You select clips you want to use and the technology will combine them along with photos trim layer and mix the shots add music and has tools for customizing and promoting your message. It targets professionals who can use it for marketing content and presentations, as well as journalists. Venture51 and Social Leverage led this round, with participation from Trestle Ventures, Quotidian Ventures, Washington Post Company, Amazon.com, and the Knight Foundation.
Siasto raises $750K to improve team collaboration
YC startup Siasto has raised $750K for its project management software. Siasto has tools to streamline workflow, keep track of projects, assignments, and what your teammates are doing. Calendar events, tasks, and documents can all be kept in one place. One Asia Investment Partners, Y Combinator, and angel investors participated in this round.