Balakam, the developer of a solution to search for online broadcasting content, participated on October 29 in a presentation of IPOboard companies for potential investors and was identified as one of the best companies on this online exchange platform in Russia, the official Russian Venture Company (RVC) website reports.
Information and trading platform IPOboard, also known in Russia as RII-board, has been established by the Moscow Stock Exchange and Russia’s Rusnano to facilitate the raising of investments by privately owned Russian hi-tech companies. Balakam joined the platform in May 2012.
A portfolio company of the RVC Seed Fund, Balakam focuses on the development of an Internet service to optimize search of audio and video streams that run live on the Web. The Balakam search system is said to be based on a unique patented technology that speeds up the process and boosts efficiency. The new solution reportedly pinpoints special identifiers that help it locate, recognize and save links to the sources of audio and video content being broadcasted on a real-time basis.A system prototype is currently available at their project website. The commercial launch of the product is slated for the end of this year. Balakam received seed capital from the RVC Seed Fund in 2011. Also last year it joined the IT cluster of Skolkovo, the state-sponsored innovation hub currently under construction outside Moscow.