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Delivery service Dostavista raises $35 million from top investors, rebrands to ‘Borzo’

February 18, 2022

Dostavista, now rebranded to Borzo, has completed an impressive Series C round, raising $35 million from a bevy of major international investors. This urban delivery service with Russian roots has been backed by the RDIF, Russia’s sovereign wealth fund (which made an early announcement about the deal in June); Mubadala, its Emirati peer; VNV Global, a major …

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Russia-based global delivery service Dostavista attracts funding from sovereign wealth funds

June 5, 2021

Russia’s sovereign wealth fund RDIF announces an investment in Dostavista, an international crowdsourced delivery service with Russian roots. Neither the amount nor the process identity of the co-investors (“leading sovereign wealth funds from the Middle-East”) have been disclosed, but the company told East-West Digital News that “more details”about the deal will be unveiled in a few …

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Three Russian online delivery startups shut down amid strong market growth

November 12, 2020

Over the past few weeks three online delivery startups ceased activities, having failed to turn a profit or demonstrate viable business models. The e-grocery delivery service Golama made the news last year as it completed a $2.3 million round of funding, then agreed with VEB Ventures an additional $7 million capital injection.   In mid-January 2020, however, …

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Leta Capital’s new $50 million fund helps software startups “eat up the world”

November 19, 2018

In early 2018 Leta Capital launched its second fund to invest in promising software technologies. As much as $50 million were contributed by Alexander Chachava, the founder and CEO of IT security solution provider Leta Group, and a few family offices, told us fund partner Sergey Toporov. Among the investors are also the founders of …

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Mail.Ru Group and top Western business angels invest in wholesale food supply startup Foodza

November 12, 2020

Foodza, a startup that organizes direct supplies of fresh fruit and vegetable to retail stores, restaurants and cafés, recently secured $1 million in a round of funding led by Mail.Ru Group. Among the other participants in the deal are Larix VC, a fund launched by Moscow-based businessmen Oskar Hartmann and Igor Rybakov; FJ Labs, the investment …

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Dostavista raises $2 million from Russian and US funds

September 12, 2018

The Russian crowdsourced courier service Dostavista has secured $2 million — one year after a previous round of funding — from its existing investors, the Russian VC funds Buran Venture Capital and AddVenture, and FJ Labs, a New York based investment firm founded by Fabrice Grinda and Jose Marin. The news was reported yesterday by business daily …

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From international sanctions to mismanagement: How Wikimart.ru went bankrupt after raising dozens of millions from international investors

July 12, 2017

Last month this Russian B2C e-commerce marketplace shut down, putting an end to a long agony. Launched in 2008 by Stanford graduates Maxim Faldin and Kamil Kurmakaev, Wikimart had the initial ambition to create a Russian analog of eBay. The project was heavily funded by Western investors, with Tiger Global Management investing some $30 million …

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IDCEE 2014: Investors and entrepreneurs gathered in Kiev ignoring “politicians’ bullshit”

October 17, 2014

Lifting any possible doubt about the resilience of Ukraine’s high-tech sector in these troubled times, the IDCEE conference was held brilliantly last week at the Olympic stadium of Kiev. Some 2,000 local and foreign startup entrepreneurs, venture investors, representative of small and large high tech and financial companies, industry experts and other IT people gathered in the …

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Siberian startup supported by Western and Russian investors to trade “interesting and unusual things”

April 1, 2013

Kima Ventures, the fund started by prominent French tech entrepreneurs Jérémie Berrebi and Xavier Niel, along with angel investors Fabrice Grinda, Jose Marin, and Alexander Aivazov, have teamed up to invest in Martmania, an online marketplace focused on trading “interesting and unusual things.” The details of the deal have not been disclosed, but a source …

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Hotel booking startup Oktogo raises $11 million

March 18, 2013

Oktogo.ru, a leading Russian online hotel booking company, has attracted $11 million in its fourth round of financing since its inception in 2010. The funds have been brought in by Russian entrepreneur Victor Sazhin in addition to some of the startup’s existing investors. These include Luxembourg’s Mangrove Capital Partners, France’s Ventech, and VTB Capital, the …

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How to invest in Russian startups: An investor’s guide

December 10, 2012

This article is published in partnership with Russia Beyond The Headlines, an international source of political, business and cultural news and analysis. As a new generation of startup entrepreneurs is emerging in Russia, the local startup scene tends to look more and more like its American, European and Asian counterparts. The stereotype of innovative Russian boffins …

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MallStreet.ru sees sales grow 5-fold in one year, secures $1 million in second-round financing

June 20, 2012

MallStreet.ru, a Russian online retailer that until recently had remained under the radar, has just secured $1 million from investors in its second round of financing in less than a year. Neither the site’s valuation nor the investors’ identity were disclosed, but Mallstreet CEO Dmitry Shashkin told East-West Digital News that French business angel Fabrice …

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