Corporate

Laser-plasma technology startup secures $1.8 million from Russian industrial group

August 23, 2017 August 23, 2017

Russian startup Optogard Nanotech has secured 110 million rubles (some $1.8 million at the current exchange rate) in equity financing from Garant, a Russian group investing in industrial projects, as reported by Skolkovo Foundation. Optogard Nanotech has developed a laser-plasma technology for strengthening the surfaces of metals and alloys, such as the inside of pipes. The Optogard …

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Russian conglomerate Sistema announces new vehicle to support Indian startups

August 22, 2017 August 22, 2017

The Russian conglomerate AFK Sistema intends to deepen its engagement with Indian startups with a wholly-owned subsidiary, ‘Sistema India,’ to be launched until the end of this year, the Russian and Indian media have reported. Operating through the Scalerator platform, which is affiliated with Sistema’s existing interests in India, Sistema India will provide hands-on business execution …

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Russian billionaire invests more than $20 million in online education platform

August 17, 2017 August 17, 2017

Illustrating the growing interest of Russian corporations in online education, Severgroup, a group of companies controlled by steel magnate Alexey Mordashov, has just acquired a 40% stake in Netology Group. The shares were sold by previous Netology investors, the Russian funds Buran Venture Capital and InVenture Partners, which fully exited the company. The financial terms of the deal have not …

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Russian Sistema invests €2.6 million in Lithuanian drone operator for power networks

August 17, 2017 August 16, 2017

Sistema Finance, a subsidiary of the Russian conglomerate AFK Sistema, has paid €2.6 million to acquire a 50% stake in a Lithuanian drone operator. Laserpas provides surveillance and high-precision monitoring solutions for large power line operators worldwide. The company employs electric- and petrol-powered long-range unmanned aerial vehicles (UAV) to gather considerable volumes of data “at an unprecedented …

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Yandex and Sberbank agree $500 million JV plan to create “leading e-commerce ecosystem” in Russia

August 9, 2017 August 14, 2017

Yandex, the NASDAQ-listed Russian search giant, and Sberbank, Russia’s state-owned national savings bank, announced today their plans to join forces and create “a leading e-commerce ecosystem” based on the Yandex.Market e-commerce marketplace. The deal, if confirmed, would mark the biggest e-commerce investment in Russia’s history. According to a non-binding term sheet — which will ultimately be …

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Russian banks look to a Blockchain future

August 4, 2017 December 24, 2018

Two months after President Vladimir Putin met the founder of ethereum — the world’s biggest cryptocurrency after bitcoin — a consortium of the country’s biggest banks has developed a distributed ledger dubbed Masterchain. This ledger uses a modified ethereum protocol while complying with national security standards, according to the country’s central bank-backed FinTech Association. The lenders, including Sberbank PJSC and VTB Group, are hoping that by adopting …

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Russian funds launch giant investment programs on the global fintech scene

August 3, 2017 August 3, 2017

As global fintech investment might reach new heights this year, Russian players are in the game with several Moscow-based firms announcing plans to invest massively in this industry. Thus two asset management companies, Fintech Capital and Da Vinci Capital, are launching a $200 million debt finance fund for fintech companies. FinTech Capital is owned by ID …

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Yandex deploys Big Data and AI technologies across Europe, eyes South American market

July 26, 2017 August 1, 2017

Yandex Data Factory, a B2B business unit which Yandex launched in 2014 to develop custom-made Big Data solutions, has developed significantly both in Russia and abroad, its CEO Jane Zavalishina said in an exchange with tech blog 150.com at an industry conference. From its offices in Moscow and Amsterdam, Yandex Data Factory aims to make Yandex’s technologies – …

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Russian startup Chefmarket attracts $3.5 million from Mitsui

July 25, 2017 July 25, 2017

The Moscow-based food delivery startup Chefmarket.ru has just secured $3.5 million from Mitsui & Co — just one year after the Japanese corporation led a previous $1.5 million round. “Mitsui has designated retail and services, including e-commerce and TV shopping, as one of its key domain, and is expanding its presence through various investments. After a small …

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Aeroflot considers using cryptocurrencies and Blockchain in its payment operations

July 24, 2017 December 23, 2018

Cryptocurrency-based projects are springing up in Russia, as President Putin sees in these technologies a potential instrument for the country’s modernization and the central bank has officially recognized bitcoin a “digital currency.” One of the latest initiatives from the private sector came earlier this month from Aeroflot. The giant Russian airline company is investing 24.6 million …

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French corporate giants Decathlon and Servier hunt for Russian startups at Skolkovo

July 21, 2017 August 25, 2017

This past Monday a team of talent scouts from Decathlon, a French chain of sports stores with nearly 50 outlets in Russia, met with a range of Russian startups at Skolkovo, the international tech hub under completion on the outskirts of Moscow. The meeting was part of a joint initiative of the Skolkovo Foundation, French Tech Moscow, …

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Fintech: A Russian revolution is coming

July 20, 2017 July 23, 2017

Russia is the world’s third largest financial technology market and bankers at the annual sector conference in St Petersburg this year said they are continuing to roll out new cutting edge services as the need for digitization is becoming urgent. Russian President Vladimir Putin made digitization a centerpiece of this year’s St Petersburg International Economic Forum (Spief), …

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