East-West Digital News

Russian state strengthens control over leading Internet group VK

December 3, 2021 December 3, 2021

Russia’s Gazprom is gaining control of VK Company, the LSE-listed Russian Internet major (previously known as Mail.ru Group), as a result of a string of deals to buy out Russian billionaire Alisher Usmanov from the company. These transactions will increase state control over the group, which owns in particular the country’s leading social networks Vkontakte …

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Russian-American startup TraceAir secures $5 million to address “burning needs” in US construction industry

November 30, 2021 November 30, 2021

Less than one year after securing its Series A round ($3.5 million), TraceAir, a construction software startup with Russian roots, has attracted $5 million from Flashpoint Venture Capital, reports Rusven. Founded in 2015, TraceAir has developed a cloud platform to help construction companies control quality and costs with the help of drone data, smart analytics and an …

Russian-American startup TraceAir secures $5 million to address “burning needs” in US construction industry Read More

Kalashnikov Group patents steel and plastic electric car

November 30, 2021 November 29, 2021

Russian weapon maker Kalashnikov Group has patented exterior and interior features of its new UV4 electric car, designed for the consumer market. The information appears in the database of Russia’s Federal Institute of Industrial Property. UV4 is equipped with an electric motor with a capacity of 50 kW (68 hp), which will allow the car to reach the speed …

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State-owned investment corporation Rusnano struggles with “disproportionate debt”

November 29, 2021 November 29, 2021

Earlier this month Rusnano, the state-owned investment corporation set-up in 2007 to nurture nanotechnologies and related innovation, admitted it had accumulated a “disproportionate debt,” reports TheBell.io. On Friday, Nov. 19, the Central Bank ordered the Moscow Stock Exchange to suspend trading of Rusnano’s bonds, while company management were reportedly locked in debt restructure negotiations. Unsurprisingly, …

State-owned investment corporation Rusnano struggles with “disproportionate debt” Read More

Russian digital banking giant Tinkoff acquires payment automation service Jump.Finance

November 26, 2021 November 26, 2021

Tinkoff, the Russian digital banking giant, has taken control of Just Look, the company behind the Jump.Finance payment automation service. Tinkoff purchased a 51% stake under undisclosed terms. Founded in 2017 by Anton Kirillov (CEO) and Mikhail Kirchenko (CTO), Jump.Finance has asserted itself as a major provider of payment automation software for taxi fleets, car dealers, delivery companies, scrap collector …

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Russian jewelery made available to Western European consumers via Zalando

November 24, 2021 January 20, 2022

Jewelery lovers from France, Germany and Italy can now buy creations from Sokolov, one of the most established Russian jewelers, through Zalando. Sokolov is the first Russian jewelery brand to have made its products available on this major Western European marketplace. Zalando customers can receive these Russian-made items within just 1-2 days (premium service) or …

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Venture Camp in Dubai: A breathtaking business and leisure experience!

November 24, 2021 December 7, 2021

This VC Camp in the UAE will uniquely combine networking, learning, and adventure. Reserved for tech investors, this event offers a rare opportunity to find partners, discuss deals, learn from each other — and have loads of fun! Camp features include: Interactive masterclasses and group discussions Desert survival and best practices Sand buggies and 4×4 ride through sand dunes …

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New ESG Innovation Index praises Moscow city’s “tremendously effective public transport” and numerous edtech entrepreneurs

November 23, 2021 November 23, 2021

Moscow ranks second among Europe’s largest cities in the ‘Future City ESG Innovation Index,’ put together by Munich-based think tank DEEP Ecosystems. This new index aims to assess “the potential of innovation hubs to support sustainable innovation in the ESG fields.” Its four sub-indexes, eight compound metrics and 29 individual indicators cover the “Community of ESG Entrepreneurs;” their …

New ESG Innovation Index praises Moscow city’s “tremendously effective public transport” and numerous edtech entrepreneurs Read More

“A new Dreyfus affair:” Ilya Sachkov asks President Putin to be transferred from jail to house arrest

November 23, 2021 November 23, 2021

Ilya Sachkov, the top cybersecurity businessman who was arrested under charges of “state treason” in late September, has claimed he is innocent and asked President Putin to be transferred from jail to house arrest during the investigation. Excerpts of his letter to Putin were shared with Forbes Russia by Sachkov’s lawyer Sergey Afanasyev. “I think this is a …

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VK acquires edtech businesses in Russia and Brazil

November 22, 2021 November 25, 2021

In the past few months, Russian Internet major VK (previously Mail.ru Group) demonstrated a strong appetite for online education — both in Russia and abroad. In August the group, partnering with Alexander Galitsky, integrated its properties Skillbox and GeekBrains into a holding called Skillbox Limited. In October, VK completed the move by merging SkillFactory, …

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Auchan partners with Sber to accelerate ‘phygital’ commerce development

November 18, 2021 November 18, 2021

Auchan has inked with SberMarket — a delivery service owned by Sber, the state-controlled financial and digital giant — a “strategic cooperation” agreement in the field of e-commerce. The agreement will be in force until 2028, according to a Sber press-release. The partnership aims to “accelerate the development of Auchan’s ‘phygital’ commerce in Russia. The parties …

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New fund launches in Russia: digital bank, mobile operator and alleged Putin daughter in the game

November 17, 2021 November 18, 2021

The ‘Fund for Technological Investments,’ a newly registered startup investment vehicle, made the news in Russia last week. This was due neither to any impressive investment capacity (just around 3 million rubles, or $40,000, per deal), nor to any special investment thesis. What is less common is the identity of one the instigators of this …

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