Ambient Sound Investments, ASI, has made its first exit from Russia according to Quintura. ASI has sold its stake in SaaS-based inventory management software provider LogneX (Moy Sklad). Interestingly enough, LogneX was also ASI’s first investment in Russia. ASI sold its stake to 1C, which is a Russian based ERP service provider.
In 2008, ASI invested about $200 000 to LogneX for a 30% stake of the company. According to Margus Uudam’s comments in Quintura, the investment house generated return on their investment – how big, it is unknown.
1C on the other hand has plans to continue working in co-operation with the founders to further develop the service to be integrated with their solutions.
LogneX has some 400 small and medium sized business users. The company was founded in 2007 and is run by CEO Askar Rahimberdiev.