Russia-based e-commerce company Heverest.ru secured $1.4m in financing on Tuesday from corporate-backed venture capital firm eVenture Capital Partners and Rollingahead Ltd.
Heverest was launched in June by Fast Lane Ventures, a Russia-based developer of internet properies, with $600,000 in seed funding. Heverest operates chiefly as an online sporting and outdoor goods retailer, but with an online community attached.
Marina Treshchova, chief executive officer of Fast Lane Ventures, said: "Fast Lane Ventures is thrilled to be behind and encourage Heverest.ru, as it has very high business growth potential. We are currently witnessing an increasing amount of effort being made by the Russian government to popularise sport in this country, with Russia hosting a number of world-scale sporting events in the next few years."