Jane Kuhuk

Russia and China announce new joint investment programs exceeding $12 billion

July 18, 2017 July 18, 2017

Over the past weeks, illustrating the growing ties between the two countries in the field of innovation, several Russian state-owned funds and banks have signed agreements with Chinese counterparts. The combined amounts of these programs, which are partly dedicated to high-tech projects, may exceed $12 billion. VEB-Harbin Bank The first of these partnerships, which was …

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Finnish CapMan takes minority stake in Russian online marketing agency

July 14, 2017 July 14, 2017

CapMan, a Finnish private equity fund manager, has acquired a minority stake in Kokoc Group, a major Russian online marketing agency. Neither the amount nor the terms of the transaction, which took place last month, have been disclosed. The investment will be used to acquire new companies and expand the group’s range of services. “Kokoc …

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Yandex acquires regional car classifieds sites from Hearst Shkulev Digital

July 11, 2017 July 11, 2017

Auto.ru, one of the leading online auto classifieds sites in Russia, and its owner Yandex, have agreed a “strategic partnership,” with Hearst Shkulev Digital, a leading publishing house in Russia, as reported by the Russian business daily Kommersant last week. As part of the deal, Yandex is acquiring HSD’s car classifieds sites across Russian regions. These include E1.Auto …

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Russian food delivery market heats up: AddVenture invests $5 million in Grow Food

July 11, 2017 July 25, 2017

In a new illustration of VC interest in the Russian food delivery market, Grow Food has attracted $5 million from AddVenture, a Moscow-based fund, the Russian business daily Kommersant reported last week. Currently, the startup offers food deliveries to athletes on a subscription basis. Customers may pick one of two weekly eating programs. The tariffs …

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GroozGo: 3rd investment in a row in Russian online cargo transportation projects

June 29, 2017 July 4, 2017

Illustrating the growing traction of the online cargo transportation market, Moscow-based logistics services provider KPD-Cargo has acquired a majority stake in online trucking service GroozGo for $2.1 million. Reported earlier this month, the deal move came just two months after a competing Russian project was announced, and almost simultaneously with another funding round for Deliver, which attracted …

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Almaz Capital and Sistema VC invest $4 million in US mobile travel service

June 27, 2017 June 27, 2017

Almaz Capital, an international venture fund with Eastern-European roots, and Sistema VC, the venture arm of the Russian conglomerate Sistema, have invested $4 million in a US mobile travel app called FinalPrice. With FinalPrice’s iOS mobile app, users “get access to the secret cache of ultra-low prices on flights, hotels, and car rentals” for $99 per …

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Russian team secures $7 million through Initial Coin Offering to “revolutionize zirconium dioxide production”

June 16, 2017 August 29, 2017

Illustrating the growing traction of blockchain technologies in the country, a team of Russian scientists and financial experts has just raised $7.07 million from 3,955 backers on a blockchain-based crowdfunding platform. Dubbed ‘ZrCoin,’ the project consists in building a factory to recycle metallurgical waste using an innovative technology. The team presents their project as “the first-ever …

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Russian students win prestigious international programming championship

May 26, 2017 May 26, 2017

A team from St. Petersburg National Research University of Information Technologies, Mechanics and Optics (ITMO) has come out on top of the 41st International Collegiate Programming Contest of the Association of Computing Machinery (ACM ICPC), beating 133 of their peers in the finals held in Rapid City, USA on May 24, 2017. ITMO has won …

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Ukraine bans leading Russian Internet sites

May 16, 2017 May 17, 2017

Confirming that the relations between Ukraine and Russia are currently at their lowest, Ukrainian President Petro Poroshenko yesterday signed a decree applying sanctions to 468 legal entities and 1,228 individuals from Russia. Among the targeted organizations are the two leading Russian Internet groups — Yandex and Mail.Ru Group — the services of which will be made …

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PepsiCo launches international acceleration program in Moscow

May 16, 2017 May 16, 2017

Multinational beverage and snack maker PepsiCo has announced the launch of a corporate accelerator for local and international startups in Russia. While PepsiCo LAB targets essentially food and beverages projects, its three-month program is also open to startups offering innovative solutions in the fields of CRM, human resource management, sales performance, data mining and analysis, and operation automation. …

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Five international messengers banned in Russia

May 9, 2017 May 10, 2017

Last week five messengers — WeChat, BlackBerry Messenger, LINE, Imo.im and the audiovisual chat Vchat — were banned by the Russian telecom regulator Roskomnadzor after refusing to be added to the official Russian “Registry of Information-Dissemination Organizers.” The news has been reported by Roskomsvoboda, a Russian NGO that aims to “combat Internet censorship in Russia.” …

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Russian warehouse operator plans to launch “Uber for cargo carriers”

April 26, 2017 November 12, 2020

Multinational Logistics Partnership (MLP), a major operator in the Russian warehouse real estate industry, intends to launch an interactive transportation management system for cargo transportation in Russia. The project is expected to start operations in the course of this year. Dubbed ‘TransCord,’ the system will track information about registered carriers and cargoes. An advanced selection algorithm automatically will identify …

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