Kazakh Investor Puts $20m Into Israeli Startup Mobli

Kenges Rakishev put $20 million into the Israeli startup; other investors put in $2 million more.

Maya Epstein
Send in e-mailSend in e-mail
Maya Epstein

Israeli startup Mobli opened the Jewish New Year on a high note, raising $22 million in its third round of financing.

Kazakh businessman Kenges Rakishev contributed $20 million, with another $2 million coming from previous investors.

Mobli, which develops social networking apps for sharing pictures and videos, announced the news on Wednesday.

The company declined to state its valuation for the purposes of the funding round, but estimates are in the $300 million range.

Mobli is best known for its famous investors, including actor Leonardo DiCaprio, who invested $4 million a year ago in the company's second funding round. Tennis player Serena Williams, actor Tobey Maguire and cyclist Lance Armstrong are among its other celebrity investors - along with a number of New York hedge funds.

Rakishev is one of the most influential businessmen in Kazakhstan and will join the board of directors. This is his second known investment in Israel. Last month he put $5 million into TriPlay, which develops cloud-based storage services.

Mobli's business model is based on revenues from location-based advertising.

Kenges Rakishev.Credit: AP

Comments

SUBSCRIBERS JOIN THE CONVERSATION FASTER

Automatic approval of subscriber comments.
From $1 for the first month

Already signed up? LOG IN

ICYMI

Charles Lindbergh addressing an America First Committee rally on October 3, 1941.

Ken Burns’ Brilliant ‘The U.S. and the Holocaust’ Has Only One Problem

The projected rise in sea level on a beach in Haifa over the next 30 years.

Facing Rapid Rise in Sea Levels, Israel Could Lose Large Parts of Its Coastline by 2050

Tal Dilian.

As Israel Reins in Its Cyberarms Industry, an Ex-intel Officer Is Building a New Empire

Queen Elizabeth II, King Charles III and a British synagogue.

How the Queen’s Death Changes British Jewry’s Most Distinctive Prayer

Newly appointed Israeli ambassador to Chile, Gil Artzyeli, poses for a group picture alongside Rabbi Yonatan Szewkis, Chilean deputy Helia Molina and Gerardo Gorodischer, during a religious ceremony in a synagogue in Vina del Mar, Chile last week.

Chile Community Leaders 'Horrified' by Treatment of Israeli Envoy

Queen Elizabeth attends a ceremony at Windsor Castle, in June 2021.

Over 120 Countries, but Never Israel: Queen Elizabeth II's Unofficial Boycott