OZON.ru, a Russian online retailer, has completed a $100m funding round.
The round was led by existing investor ru-Net Ltd, with participation from Japanese online retailer Rakuten, Alpha Associates and Index Ventures. Baring Vostok Private Equity Fund, which is the controlling shareholder and investor since 2000, is not selling any share in this round and will remain the largest shareholder.
The company intends to use the funds to develop its fulfilment and distribution operations, expand its product assortment, open new delivery networks in cities across Russia, grow brand awareness to acquire new customers, develop its travel division, OZON.travel, and launch new projects.
Led by president Bernard Lukey, and CEO Maelle Gavet, OZON.ru had a turnover of $137m in 2010.