Russian local service startup Pay-Z has just launched a “pay by app” solution for shopping aficionados to avoid standing in queues. Pay-Z users may scan barcodes of the chosen goods, which automatically adds them to an online cart. Customers will settle their purchase through a special terminal by a check-out lane, or directly through the app. …
Russian startup launches app to shop without queueing Read More
Andrey Trubnikov, the owner of two successful Russian organic beauty brands, Natura Siberica and Old Agafya’s Recipes, intends to launch an e-commerce activity on the US market, he said in an interview published last week by Russian business daily Vedomosti. The sales are planned to kick off in 2018 with a local sales manager hired by the …
Russian beauty brands to test US e-commerce waters Read More
iGooods, a Saint Petersburg supermarket delivery service, has attracted 123 million rubles (roughly $1.9 million at the current exchange rate) in exchange for a 24.6% stake in the company. The news was reported by Russian business daily Vedomosti this Monday. The investors included Moscow-based venture fund SOL Ventures, ex-partners at the venture fund Quadriga Capital Russia, …
Russian supermarket delivery service attracts $1.9 million from local investors Read More
The French DIY giant Leroy Merlin has partnered with the Internet Initiatives Development Fund (IIDF, or FRII in Russian), Russia’s biggest fund for early-stage startups, to launch an accelerator for retail startups. The program will target startups developing marketing software, automation and robotization solutions for internal operations in the field of logistics, solutions for heavy trucking …
Leroy Merlin teams up with IIDF to accelerate Russian retail startups Read More
VEB Innovations, the venture arm of Vnesheconombank supporting innovative projects, is planning to invest up to 200 million rubles ($3.5 million at the current exchange rate) in Compo, a Russian developer and manufacturer of automated retail solutions. Compo is planning to use the financing to develop sales on the global market. Currently, the company is …
VEB Innovations to invest $3.5 million in Russian retail systems developer Read More
Since this past July, Russian retailers have been required to use internet-connected registers which transmit sales data to the authorities to improve tax collection. But retailers were left counting the cost of a holiday-season glitch that may have caused billions of rubles in lost sales after the failure of some of these registers. “A retail nightmare came …
Russia suffers holiday retail nightmare as cash registers crash Read More
Burger King Russia has just launched Whoppercoin, a cryptocurrency which can be traded for Whoppers. For each ruble spent at Burger King locations in Russia, diners will get a quantity of Whoppercoin sent to their digital wallet via Waves, a Russian-based Blockchain platform. “Now a Whopper is not only a burger that people in 90 different …
Burger King Russia launches “Whoppercoin,” accepts crypto as payment method Read More
US retailer Best Buy has pulled from its shelves Kaspersky Lab’s PC security software amid fears of Kremlin spies using the antivirus tool to snoop on Americans — even though there is no concrete evidence to indicate that the security software is a threat. In an exchange with UK’s The Register, the store chain confirmed its decision, but …
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, …
French corporate giants Decathlon and Servier hunt for Russian startups at Skolkovo Read More
Following the first edition in late 2015, Ikea is launching its second ‘Mega Accelerator’ in Russia. Startups are expected to help “transform the MEGA shopping malls into spaces for meetings and relaxation, improve customer experience and optimize business processes.” Owned, developed and managed by Ikea, MEGA is a leading chain of shopping centers across Russia. These malls attract some 275 …
Ikea launches second startup accelerator program in Russia Read More
On June 27-28 DELIVER, an invite-only event dedicated to international e-commerce logistics and European policy making, will hold its second edition in Berlin’s Funkhaus. This even will gather prominent retailers from all continents with a focus on Europe’s largest e-commerce markets (UK, Germany, France, Spain, Italy, Russia, Benelux, Nordics). The organizers expect some 800 delegates from 50 …
Runa Capital, a venture fund with Russian roots operating globally, has just participated in a $4 million seed round for SimpliField. Based in Lille and Paris, France, this startup has developed a SaaS solution which it claims can change “the way retailers sell and deliver great customer experience.” The French investment fund CapHorn also took …
Runa Capital invests in French startup SimpliField to “reinvent retail” Read More
