E-Commerce

New Russian high tech fund to invest up to $20 million in startups across the globe

March 18, 2013

In a new illustration of the vibrant activity of the Moscow venture scene, Maxim Shekhovtsov and Alexander Zhurba – founders of TexDrive, one of the city’s largest startup accelerators – announced last week the creation of a fund dedicated primarily to IT projects in Russia and around the world. Christened Genezis Capital, the fund actually …

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Hotel booking startup Oktogo raises $11 million

March 18, 2013

Oktogo.ru, a leading Russian online hotel booking company, has attracted $11 million in its fourth round of financing since its inception in 2010. The funds have been brought in by Russian entrepreneur Victor Sazhin in addition to some of the startup’s existing investors. These include Luxembourg’s Mangrove Capital Partners, France’s Ventech, and VTB Capital, the …

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Buran invests in Russia’s nascent online ticketing market

November 19, 2014

Last week, Ponominalu.ru, a Moscow-based online provider of show tickets, announced the completion of its first round of financing, securing $1.5 million from Buran Venture Capital at an undisclosed valuation. Ponominalu.ru is expected to use the investment capital to beef up its team, explore further regional opportunities, and offer the events ticket market in Russia its …

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B2B-Center.ru CEO Alexey Degtyarev: “Russia’s model of b2b e-commerce is definitely unique”

March 14, 2013

With daily trading volumes between $70 and $300 million, B2B-Center.ru, Russia’s main electronic trading platform, serves more than 100,000 clients from 100 countries. Last year, a consortium of investors led by Da Vinci Capital Partners, Insight Capital, Alpha Associates and Runa Capital acquired a minority stake in the company, valuing it at an approximate $160 million. CEO …

B2B-Center.ru CEO Alexey Degtyarev: “Russia’s model of b2b e-commerce is definitely unique” Read More

Smart bank card provider IQcard raises $2.5 million from Russian and Ukrainian funds

March 13, 2013

IQcard, a Moscow-based startup offering multifunction bank cards, has raised “more than $2.5 million” in a Series A round from Paradigm Investments and TA Venture, as well as from existing investors Fastlane Ventures and Direct Group. Neither the exact amount of investment nor the startup’s valuation were disclosed. Launched in March 2012, IQcard offers a prepaid bank …

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Avito.ru, Slando.ru and OLX.ru merge to create online classifieds giant

March 12, 2013

Avito.ru, Russia’s leading classifieds site by number of users, is merging with its competitors Slando.ru and OLX.ru, creating the fifth most popular Russian website, with more than 100 million page views a day, The Financial Times reported this morning. As part of the deal, Slando and OLX will be folded into the Avito brand. The …

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Russia’s Bright Capital leads investment round in German wine online retailer

March 12, 2013

The invest abroad trend among Russian financial institutions was demonstrated again last week by a capital injection of “several million euros” in Wine in Black, a German premium wine online retailer. The round was led by Russia’s Bright Capital Digital with existing investors – e.ventures (Hamburg), Passion Capital (London) and Project A (Berlin) – also participating “significantly.” Wine …

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The Luxury, Fashion, Lifestyle & Digital Business Conference is coming back to Moscow

March 11, 2013

HUBFORUM – “La Conférence Luxe & Digital,” the first business event dedicated to digital luxury, lifestyle, and fashion, will hold its second Moscow edition on April 2, 2013, on the final day of the Mercedes-Benz Fashion Week Russia. The conference, which will gather leading fashion, luxury and digital marketing professionals from Europe and the USA, will explore …

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Comparing apples and oranges: Forbes ranks Russia’s “Top 30 Internet companies”

March 8, 2013

In an attempt to shed some light on Russia’s Internet industry, the Russian edition of Forbes magazine released last week the 2013 edition of its “Top 30 Internet companies” ranking. The ranking is based on estimates of each company’s annual revenue. From a methodological standpoint, however, it leaves much to be desired. Not only is …

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St. Petersburg regional fund supports innovative payment solution developer

March 7, 2013

A state-supported venture fund in St. Petersburg (“The St. Petersburg regional venture fund for investment in small businesses in the scientific and technical sphere,” in Russian officialese) has announced an investment of an undisclosed amount in Breeze Technology, a startup developing innovative payment methods for public transportation. Breeze Technology has provided St. Petersburg and Moscow …

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Ventech, Kite Ventures and Ru-Net fuel Moscow startup for “Russia’s first e-commerce love brand”

March 5, 2013

Last month Moscow-based fashion retailer Trends Brands announced it had raised $4 million in a Series B round. The amount includes $3 million from French venture fund Ventech and $1 million from Ru-Net and Kite Ventures, two Russian funds operating internationally, a source close to the deal told East-West Digital News. Ru-Net and Kite Ventures had …

Ventech, Kite Ventures and Ru-Net fuel Moscow startup for “Russia’s first e-commerce love brand” Read More

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