Finance

GetVision’s new fund targets startups from Central and Eastern Europe

September 7, 2021

GetVision, a private investment boutique with offices in Moscow and London, is launching a 1 billion ruble ($13.6 million) tech fund for startups with roots in Central and Eastern Europe. As reported by Rusven, this pre-seed and seed fund will focus on such sectors as fintech, e-commerce, B2B software, and artificial intelligence.   Under plans, the …

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Sber plans to register digital asset issuance platform in September

September 6, 2021

Sber, Russia’s state-controlled financial and digital giant, continues progressing with the development of its blockchain-based platform for issuing digital assets. Anatoly Popov, deputy chairman of the executive board at Sber, said his organization is planning to have registered its digital asset issuance platform with the Bank of Russia — the country’s central bank — by …

Sber plans to register digital asset issuance platform in September Read More

Yandex buys Uber out of food delivery partnership in $1 billion deal

September 1, 2021

Yandex has struck a $1 billion deal to buy out U.S. ride-hailing giant Uber from a host of the pair’s joint ventures in Russia, the company announced Tuesday.  Yandex and Uber first combined their ride-hailing businesses in 2017, with a deal to merge their operations in Russia and a number of other ex-Soviet countries. This partnership has seen the pair cement …

Yandex buys Uber out of food delivery partnership in $1 billion deal Read More

Delivery service Dostavista raises $35 million from top investors, rebrands to ‘Borzo’

February 18, 2022

Dostavista, now rebranded to Borzo, has completed an impressive Series C round, raising $35 million from a bevy of major international investors. This urban delivery service with Russian roots has been backed by the RDIF, Russia’s sovereign wealth fund (which made an early announcement about the deal in June); Mubadala, its Emirati peer; VNV Global, a major …

Delivery service Dostavista raises $35 million from top investors, rebrands to ‘Borzo’ Read More

A SPAC with Russian flavors: Nexters and Kismet complete merger

September 24, 2021

Nexters, one of the most successful Russian-founded game development companies, is going public today through a merger with special-purpose acquisition company (SPAC) Kismet. The company is traded on the NASDAQ under the new ticker symbols “GDEV” (ordinary shares) and “GDEVW” (warrants). The Kismet SPAC which just merged with Nexters closed its $250 million NASDAQ IPO in …

A SPAC with Russian flavors: Nexters and Kismet complete merger Read More

Ozon targets one-third of booming Russian e-commerce market

August 21, 2021

Ozon, Russia’s second-biggest online retailer, sees the value of merchandise sold on its platform increasing tenfold by 2026 with the company aiming for control of a third of the country’s e-commerce market.   The company is targeting annual GMV of 2.5 trillion rubles ($34 billion) in 2026, Chief Executive Officer Alexander Shulgin said in an …

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MegaFon exits AliExpress Russia, Mail.Ru injects $60 million to support company expansion

August 20, 2021

AfterOzon, Sber, Yandex and Auchan, a new big capital injection was announced earlier this week in the Russia e-commerce space. AliExpress Russia, the cross-border e-commerce leader and a major player on the domestic market, will receive $60 million from Mail.ru Group, one of its shareholders. The fresh funding will support AliExpress Russia’s “ongoing active expansion …

MegaFon exits AliExpress Russia, Mail.Ru injects $60 million to support company expansion Read More

Aviasales.ru secures $43 million from Elbrus Capital and iTech Capital funds

August 21, 2021

Aviasales.ru, a leading search engine for flights and hotel bookings, has attracted $43 million from Elbrus Capital and iTech Capital, two PE/VC firms with Russian roots. The latter had already invested $10 million in the company seven years ago, in 2014. The latest capital injection — which is sizable by Russian standards — will help the company launch new …

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Russian court finds Baring Vostok’s top managers guilty of embezzlement, Calvey and Delpal receive suspended sentences

August 15, 2021

On Friday, Aug. 6, more than two and a half years after its beginning, a high-profile case emblematic of the rule of law in Russian business life came to a decisive development. American Michael Calvey, French Philippe Delpal and their Russian colleagues of the Baring Vostok managing team were found guilty by a Moscow court. …

Russian court finds Baring Vostok’s top managers guilty of embezzlement, Calvey and Delpal receive suspended sentences Read More

Eastern Europe quarterly review : SPACs with Russian flavors, new VC darlings, food delivery disruption

August 11, 2021

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia, Ukraine, and Belarus, with a column by EWDN Chief Editor Adrien Henni highlights the most notable industry facts and trends across the region. The second quarter of this year was marked, in particular, by the emergence of SPACs …

Eastern Europe quarterly review : SPACs with Russian flavors, new VC darlings, food delivery disruption Read More

Women’s e-learning platform from Russia raises $3.3 million to go global

August 6, 2021

Academy of Changes (Академия перемен), a Russian edtech platform intended for women, has closed a 242 million ruble ($3.3 million) round of funding, some 18 months after inception early last year. The funding was provided by TMT Investments, a London-based fund with Russian connections, and by the corporate fund of MTS, the Russian mobile major …

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Russian-founded mobile game publisher launches co-investment vehicle, displays IPO goals

August 4, 2021

Earlier this month Green Grey, a Russian-founded publisher of mobile games and apps, announced the launch of NPU Games. This new casual games studio offers co-investment opportunities to back the development of casual games.  An initial capital injection of $800,000 was brought by Green Grey itself to develop a pilot project, Cook’s Voyage — a casual …

Russian-founded mobile game publisher launches co-investment vehicle, displays IPO goals Read More

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