Corporate venturing

Almaz Capital and Sistema VC invest $4 million in US mobile travel service

June 27, 2017

Almaz Capital, an international venture fund with Eastern-European roots, and Sistema VC, the venture arm of the Russian conglomerate Sistema, have invested $4 million in a US mobile travel app called FinalPrice. With FinalPrice’s iOS mobile app, users “get access to the secret cache of ultra-low prices on flights, hotels, and car rentals” for $99 per …

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Russian fund makes 1,600% ROI from Chinese acquisition deal

May 31, 2017

Russia’s VTB Capital Asset Management claims to have made a 1,600% return on investment (“up to 15 times”) as a result of the recent acquisition of Grid Dynamics, a provider of advanced software development services, by China’s Automated Systems Holdings Limited (ASL). Launched in 2006, Grid Dynamics has asserted itself as a major international provider of technology …

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Sberbank acquires medical appointment startup DocDoc to build “a full-fledged e-health platform”

May 28, 2017

Sberbank, Russia’s national savings bank, has acquired a controlling stake (79.6%) in DocDoc.ru, a startup that helps users find doctors and set up medical appointments across 14 Russian cities. The details of the deal have not been disclosed, but the bank has specified that the remaining shares belong to the founding and top management teams — which …

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Russian warehouse operator plans to launch “Uber for cargo carriers”

November 12, 2020

Multinational Logistics Partnership (MLP), a major operator in the Russian warehouse real estate industry, intends to launch an interactive transportation management system for cargo transportation in Russia. The project is expected to start operations in the course of this year. Dubbed ‘TransCord,’ the system will track information about registered carriers and cargoes. An advanced selection algorithm automatically will identify …

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Mail.Ru announces $100 million global investment program in online gaming

December 4, 2018

Today Mail.ru Group, an LSE-listed Russian Internet company, announced the creation of ‘Mail.Ru Games Ventures’ (MRGV), a new division to invest in game development, technology and marketing worldwide. “Up to $100 million” is allocated to this investment program, of which $10 million has already been spent for the first deals, which have not been disclosed. The group targets “accomplished game studios …

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Startup investment in Central and Eastern Europe: A ground-breaking research

October 12, 2017

Already recognized for their engineering excellence, several countries of Central and Eastern Europe (CEE) are now emerging on the global startup scene. Thus for the past couple of years Belarus, Estonia, Russia, Ukraine and some other countries of the region have seen their local companies assert themselves on the international market, raise considerable funding and/or be acquired …

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Russian OTA Onetwotrip secures $3 million from Bank Saint Petersburg

April 3, 2017

Moscow-based online travel agency Onetwotrip.com has raised $3 million from Bank Saint Peterburg, the Russian business daily Vedomosti learned last week from company CEO Mikhail Sokolov. The company had previoulsy raised significant amounts from Swedish fund Vostok New Ventures — $4 million in 2015, $2.5 million in H1 2016, and $5.8 million agreed in December 2106. A major Russian bank, Bank …

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Rusnano prepares to launch Russian-Arabic tech fund

March 28, 2017

Rusnano is considering to launch a Russian-Arabic direct investment fund, business daily Vedomosti wrote last week, confirming earlier reports. The Russian state-owned nanotech giant has already identified a group of potential investors from the Middle East, Lyubov Timofeeva, Senior Analyst at Business Strategy Department at Rusnano, told the business daily. Vedomosti has learned from an …

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NFWare secures $2 million to expand in Europe and US

March 26, 2017

Yesterday NFWare, a startup with Russian roots that develops virtualization solutions for network infrastructure, announced that it raised $2 million from Sistema_VC and its existing investors Almaz Capital, Maxfield Capital, and Telefonica Open Future. “As telecom operators, Internet companies and data centers have to invest continuously to enhance the capacity of their network infrastructure, NFWare offers a technologically elegant and effective solution to reduce the costs …

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Qiwi buys e-CRM startup Flocktory for $14 million

March 26, 2017

Qiwi, a major, NASDAQ-listed Russian electronic payment operator, is in the process of acquiring Flocktory. Founded in Russia in 2012, this startup has developed a SaaS platform for customer lifecycle management and personalization, and operates internationally from its Moscow and Madrid offices. Based on data collection and analysis, Flocktory’s automated marketing solutions are intended, in particular, for the …

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