Ru-Net, a Russia-based technology company, has reportedly invested in Freecultr, an India-based online clothes company, and BeStylish, an India-based e-tailor.
The groups are both backed Smile Group, according to news provider TechCircle, which reported the deals. In December 2011, venture firm Sequoia Capital invested in FreeCultr, an online apparel brand, with a $4m investment, according to news provider Economic Times.
Ru-Net is chaired by Leonid Boguslavsky. Boguslawsky backed Russian internet companies Ozon, an on-line bookstore, and Yandex, an on-line search engine which floated in the US in May 2011.