Corporate investment

Russia’s Cleverbots launches AI solution marketplace and secures $1 million from agroindustrial group

December 8, 2020

Cleverbots, a Russian integrator of AI-powered enterprise solutions, has raised $1 million from the agroindustrial group AST. No details of the transaction were disclosed.  The fresh funding will allow Cleverbots to hire new employees, support marketing and scale the business both domestically and abroad. AST’s existing offices in Switzerland and the United Arab Emirates, may be used as launchpads for …

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Sber invests in AI-powered brand reputation management

November 30, 2020

Sber, the state-controlled financial and tech giant (previously known as Sberbank) has acquired a 8% stake in Watchout!AI  in exchange for a acquired 8%. The startup was valued at 125 million rubles, or $1.6 million at the current exchange rate. Founded in 2019, Watchout!AI uses computer vision and machine learning algorithms to “easily detect and prevent brand …

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Quarterly review: Battle of digital titans in Russia, Belarusian IT exodus, acquisitions in Ukraine

October 20, 2020

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia and neighboring countries in Eastern Europe. Since last year, EWDN chief editor Adrien Henni has offered a regular column to highlight the most notable industry facts and trends as well as promising tech innovations from these countries. Covering the third quarter of …

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Smart city solution developer to receive up to $3.4 million from major corporate funds

October 13, 2020

Alphaopen, a Moscow-based developer of IoT solutions for smart construction, will receive up to 260 million ruble ($3.4 million) from two major corporate funds: Orbita Capital, the venture arm of state corporation Rosatom, and Veb Ventures (formerly VEB Innovations), which is backed by state development agency VEB.RF (Vnesheconombank). The startup will receive a first tranche of 130 million rubles, the second …

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US health and beauty online giant iHerb plans to invest $100 million in Russia

October 16, 2020

iHerb, one of the most successful international e-commerce companies in Russia, is planning to invest some $100 million in this country in the next two years.  These investments are aimed to “improve the Russian customer services, support and expand product export by Russian manufacturers, [develop] partnerships with Russian logistics companies, expand in-house technology development center operations, and build …

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Russia and Gulf countries intensify cooperation in high tech

September 29, 2020

A series of news in the past few days came to underline the intensifying relationship between Russia and Gulf countries in the fields of technologies and investment. Mubadala eyes Russian technologies Thus last week Sberbank, the state-controlled Russian financial and tech giant (now known as Sber), announced a “strategic agreement” with Mubadala Investment Company (Mubadala), an Abu Dhabi-based sovereign …

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From Moscow to Berlin, digital music startups attract top investors

September 28, 2020

As the global digital music market pursues solid growth, last week saw three deals involving companies from Russia or with Russian founders. Sberbank acquires Zvooq Just a day before touting its transformation into a tech “universe,” Sber announced the acquisition of Zvooq, one of the most established Russian music platforms. No details about the transaction were disclosed.  Founded in 2010 by UK …

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Mail.ru Group plans to raise $600 million on London Stock Exchange

October 7, 2020

According to an announcement by Mail.ru Group on the London Stock Exchange, the Internet company plans to raise $600 million: $200 million in global depositary receipts (GDRs) to raise capital and $400 million in convertible bonds. Mail.ru Group will use this money to develop and support the business and finance future transactions, especially in areas that have …

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Sberbank unveils sweeping transformation into tech company

September 27, 2020

Sberbank, Russia’s state-controlled financial behemoth, is showcasing what it calls the biggest transformation in its history, as it unveils a suite of new technology products in an aggressive drive to get deeper into the tech sector. In a flashy presentation Thursday morning — echoing Apple’s famous annual product launches which attract millions of viewers and …

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MTS corporate fund invests in financial app Coinkeeper

September 14, 2020

The corporate venture fund of MTS, a leading Russian mobile operator, is investing 125 million rubles (around $1.7 million at the current exchange rate) in personal finance app Coinkeeper. Coinkeeper claims 350,000 users all over the world whom it helps “make the right financial decisions” from expense forecasting, to advanced analytics, to the management of …

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Admitad owner invests $3 million in cashback service

August 4, 2020

Earlier this month AB Capital Group, the owner of international affiliate network Admitad, announced an investment of $3 million in cashback service company LetyShops. Founded by Ukrainian entrepreneurs in 2015, LetyShops is now headquartered Csomád, Pest, Hungary. Its service is available in seven languages, claiming a total of 2400 online shops and 12 million users. It stands as “one of the top cashback …

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