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
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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



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