Jane Kuhuk

Rostelecom acquires Solar Security for $23 million to create national cybersecurity center

May 28, 2018 May 29, 2018

Russia’s national telecom operator Rostelecom has acquired Solar Security, a major local tech player in the field of target monitoring and information security operational management. Rostelecom spent 1.5 billion rubles (roughly $23 million at the current exchange rate) for this acquisition, as announced last week. As part of the deal, Rostelecom’s existing information security resources, …

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Russia prepares for cryptocurrency and ICO regulation

May 24, 2018 May 25, 2018

Earlier this week the State Duma, the lower house of the Russian parliament, approved almost unanimoulsy in first reading a bill to regulate digital financial assets, including cryptocurrencies, and ICOs. According to the new law, digital financial assets are not a legal method of payment Russia. The text regards cryptocurrency and tokens as digital property, with the …

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Sistema VC leads $2.5 million round for US-Russian startup TraceAir

May 21, 2018 May 21, 2018

Sistema VC, the venture arm of the Russian conglomerate Sistema, led a $2.5 million pre-A round for TraceAir, a US-Russian startup which develops construction automation solutions, the fund announced last week. Other participants in the round include US companies Engeo, a provider of geotechnical and environmental services, and Independent Construction Co., which owns “one of the …

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Driverless cars to be tested Moscow-Saint Petersburg highway

May 14, 2018 May 14, 2018

On May 4, Russian Prime Minister Dmitry Medvedev requested that driverless cars be tested on a segment of the Moscow-St. Petersburg highway by November this year. The project involves the Federal Road Agency (‘Rosavtodor’) and state company Russian Highways (‘Avtodor’) as well as a working group that includes Yandex — the Russian search giant which unveiled its …

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From the Baltics to Mexico, Russian taxi-hailing services go global

May 10, 2018 May 10, 2018

Last week Yandex.Taxi, the taxi service of Russia’s tech giant Yandex – which merged with Uber’s delivery businesses in Russia and neighboring countries earlier this year – announced its launch in Tallinn, Estonia. “Estonia became the 10th country, and the second country in the EU, where we launched activities,” Yandex.Taxi press office representative Natalia Zhuravlova …

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Leroy Merlin teams up with IIDF to accelerate Russian retail startups

May 7, 2018 May 7, 2018

The French DIY giant Leroy Merlin has partnered with the Internet Initiatives Development Fund (IIDF, or FRII in Russian), Russia’s biggest fund for early-stage startups, to launch an accelerator for retail startups. The program will target startups developing marketing software, automation and robotization solutions for internal operations in the field of logistics, solutions for heavy trucking …

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Impulse VC leads $8 million round for Russian-founded Appodeal

May 3, 2018 May 3, 2018

In late April Appodeal raised $8 million in a round led by Impulse VC, a venture fund which is reportedly affiliated to Russian billionaire Roman Abramovich. This investment brings the total funding raised to date by the startup to $11.5 million, according to CrunchBase. As part of the deal, the fund has received a minority stake in …

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Russia to ban websites that “compromise the honor” of Internet users

April 30, 2018 April 27, 2018

Russian censors may see their workload increase again with a new law coming into force against websites that “discredit the honor, dignity and business reputation of citizens and legal entities.” The law was signed President Vladimir Putin Monday last week. Internet resources can be banned following a court decision, should they refuse to remove the contentious content. Roskomadzor, …

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Russian investors bet on companies using space technologies

April 27, 2018 April 27, 2018

Two Russian serial entrepreneurs Mikhail Kokorich and Vadim Makhov have launched a joint investment firm to support B2B companies that use space technologies, Russian business publication Kommersant reported on April 24. Makhov holds a 51% stake in the company, while Kokorich has received a 49% share. Dubbed ‘Oden Holdings Limited,’ the company will target projects …

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Mail.Ru Group takes control of mobile game developer Bit.Games

April 25, 2018 April 27, 2018

Last week Mail.Ru Group, the LSE-listed Russian Internet giant, announced that it acquired a majority stake —51% — in Russian mobile games developer Bit.Games. The amount of the deal has not been disclosed. Mail.Ru Group said it will provide the team with access to all of its resources, including development, analytics and marketing, “to fuel …

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Fort Ross Ventures launches $200 million fund to help US startups enter Russian market

April 25, 2018 May 15, 2018

Listen to the audio version of this article: Last week Fort Ross Ventures announced a $200 million fund for US startups interested in the Russian market. Formerly known as Money Time, this venture fund is committed to support the “exponential success” of US tech startups by “leveraging the potential of the enormous Russian marketplace.” Fort Ross will …

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Russian students win prestigious international programming contest for the 8th time

April 24, 2018 April 24, 2018

A team from Moscow State University has won the 42nd International Collegiate Programming Contest of the Association of Computing Machinery (ACM ICPC) last week, defeating 140 international teams from 51 countries in the finals held on April 19 in Beijing, China. This is the first victory for the university and the eighth triumph for the …

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