In September, Oktogo, one of the larger hotel-booking sites in Russia, acquired Travel.ru, Russia’s equivalent of Rough Guides, for around $2 million. Today, Oktogo has announced that it will rebrand the entire company as Travel.ru, as it pivots into a new role as an integrated, one-stop travel shop that pairs travel commerce with travel information. The new Travel.ru is also announcing another $5 million in funding led by VEB Innovations, to build out its branding and new business strategy.
The latest funding takes the total raised by the new Travel.ru to $31 million. Other backers of the company include Mangrove, Ventech and VTB.