FlexyMind

Business model

For 2012 the qualitative training mobile applications for children on OS Android were practically absent, and the Russian-speaking segment of the market differed in the weak competition. FlexyMind used it and created a series of the developing applications intended for children aged from 2 years and is more senior. For April 1, 2014 the FlexyMind applications for Android were downloaded more than 1,100,000 times and received a set of positive reviews of users.

According to the experts, the volume of the Russian market of mobile applications by 2015 will reach 1 bln. dollars of the USA, at the same time game applications make about 97% of paid digital content now. If in 2012 about 38 million Russian users played games on mobile devices, then by their 2016 there will be already 65 million.

History

The FlexyMind project came to technopark Ingria in July, 2012, repeatedly participated in the investment sessions of business incubator. In the same 2012 the startup reached the final of tender of developers of mobile applications Web Readu and closed the first round of investments with ALTAIR Capital Management fund.

In March, 2014 FlexyMind closed the second round of investments, having received financing from RWM Capital. In plans of the company – further expansion of a product line of the developing game applications distributed on the Freemium model for mobile devices with OS Android and iOS.

Timofey Utnasin, head of FlexyMind

"In July, 2012 our team of 3 programmers came to Ingria. During this time we grew up, fully used incubatory potential and completed two investment rounds. The financing received from RWM Capital will be directed to further expansion of the existing FlexyMind business. We are also going to increase significantly investments in a marketing component for promotion and improving competitiveness of our products and developments, expansion of channels of interaction with potential clients. In the middle of April, 2014 we are going to release new release".