In the latest move of a long saga, a Moscow court fined yesterday three US digital companies for violating the country’s personal data storage legislation. Facebook and Twitter were fined 15 million rubles (some $200,000 at the current exchange rate) and 17 million rubles ($230,000), respectively, for repeat infractions, while WhatsApp will have to pay 4 million …
Yandex, the NASDAQ-listed Russian digital giant, yesterday announced the launch of its express grocery delivery service in Paris. “Leveraging its own advanced technologies and backed by its unique and vast expertise and experience in the e-grocery market. Yango Deli has started operating with four warehouses (also known as ‘dark stores’), which will cover approximately 1 million …
Rostec, a state-owned conglomerate covering a wide range of technologies, including military ones, has established a company dedicated to supply 4G, 5G and 6G equipment on the national market. Dubbed ‘Specter,’ the company will aim to organize the “cooperation” of Russian equipment makers in technical and production terms, reports business daily Kommersant. In November last year the …
Rostec creates 5G subsidiary to diminish Russia’s reliance on foreign equipment Read More
AfterOzon, Sber, Yandex and Auchan, a new big capital injection was announced earlier this week in the Russia e-commerce space. AliExpress Russia, the cross-border e-commerce leader and a major player on the domestic market, will receive $60 million from Mail.ru Group, one of its shareholders. The fresh funding will support AliExpress Russia’s “ongoing active expansion …
MegaFon exits AliExpress Russia, Mail.Ru injects $60 million to support company expansion Read More
Aviasales.ru, a leading search engine for flights and hotel bookings, has attracted $43 million from Elbrus Capital and iTech Capital, two PE/VC firms with Russian roots. The latter had already invested $10 million in the company seven years ago, in 2014. The latest capital injection — which is sizable by Russian standards — will help the company launch new …
Aviasales.ru secures $43 million from Elbrus Capital and iTech Capital funds Read More
On Friday, Aug. 6, more than two and a half years after its beginning, a high-profile case emblematic of the rule of law in Russian business life came to a decisive development. American Michael Calvey, French Philippe Delpal and their Russian colleagues of the Baring Vostok managing team were found guilty by a Moscow court. …
Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia, Ukraine, and Belarus, with a column by EWDN Chief Editor Adrien Henni highlights the most notable industry facts and trends across the region. The second quarter of this year was marked, in particular, by the emergence of SPACs …
Academy of Changes (Академия перемен), a Russian edtech platform intended for women, has closed a 242 million ruble ($3.3 million) round of funding, some 18 months after inception early last year. The funding was provided by TMT Investments, a London-based fund with Russian connections, and by the corporate fund of MTS, the Russian mobile major …
Women’s e-learning platform from Russia raises $3.3 million to go global Read More
The Russian company Cognitive Pilot intends to sell its agricultural drones across North and South America, including the US market. To this end, it has registered a subsidiary, ‘Cognitive Pilot Corp.,’ in Texas, reports Vedomosti. Cognitive Pilot CEO Olga Uskova said the flying engines will initially be sold in Kansas, Ohio, Oklahoma and Texas, where no license is required …
Russian Cognitive Pilot aims to sell agricultural drones in challenging American markets Read More
In the first half of this year Sber, the state-controlled financial and digital giant (previously known as Sberbank), invested some 73 billion rubles (around $1 billion) in its digital ecosystem, a company representative told business daily Vedomosti. These investments account for 11.5% of Sber’s net profit for H1 2021 (630 billion rubles). Sber’s investments in this field are accelerating dramatically: …
Sber and Yandex invest piles of rubles in digital services and e-commerce Read More
Last week a Russian court fined Google’s local subsidiary 3 million rubles (around $41,000 at the current exchange rate) for violating Russia’s personal data storage law, reports TASS news agency. While the US digital giant had previously been fined for refusing to remove censored information and for abusing dominant position, it is the first fine …
Moscow court fines Google for breaching Russia’s personal data storage law Read More
Earlier this month Green Grey, a Russian-founded publisher of mobile games and apps, announced the launch of NPU Games. This new casual games studio offers co-investment opportunities to back the development of casual games. An initial capital injection of $800,000 was brought by Green Grey itself to develop a pilot project, Cook’s Voyage — a casual …
Russian-founded mobile game publisher launches co-investment vehicle, displays IPO goals Read More
