Russian educational content platform BeSmart.net secured a total of USD4 million in investment commitments from Education Matrix. The said investment will be given over the next three years, according to VentureBeat.

BeSmart expected its yearly project income to amount to USD15.4 million with around 100,000 lectures to be uploaded to the site within one year. An average lecture costs RUB150 (approximately (USD4.50). The site can also cater to videoconferences and online seminars. BeSmart's educational contents are protected from illegal downloading and reproducing, the report said.

The educational content platform was founded by Alexander Knyazev. Knyazev is a professor at the International Institute of Public Administration and Management in Moscow. Knyazev's specialty is in game-based learning and educational psychology, the report stated.

Education Matrix is an investment fund based in Hong Kong. The firm was established in 2010, the report added.

Jannie Chui, a representative of Education Matrix, said of the investment, "We had cooperated with Knyazev for many years already, so we followed his suggestion to invest in BeSmart. We hope that this project will be successful and that we will continue investing in Russia."