Finance

A Russian-founded startup from California attracts $20 million to help businesses create bots easily

June 2, 2021

A young Californian startup created by four Russians could well become one of tomorrow’s leaders in robotics automation. Two years after inception, it has just raised $20 million from international investors — with a valuation exceeding $100 million, according to Forbes Russia. Thanks to ElectroNeek’s robotic process automation platform, businesses can now create more easily digital workforce and personal assistants. As reported …

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In 2020, Russian e-commerce recorded one of the world’s highest growth rates

June 7, 2021

Specialized research agency Data Insight has just released the international version of its Russian e-commerce report for 2020. Domestic sales of physical goods amounted to 2.7 trillion rubles (some $37 billion at the average exchange rate of the year), up 58% from 2019 — placing Russia among the world’s fastest-growing e-commerce markets. Several segments recorded …

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Online video leader IVI raises $250 million from state and private investors, keeps western IPO potential

October 7, 2021

Russian online video major IVI (ivi.ru) announced today a $250 million funding round involving top state and private investors. This is one of the biggest deals of the past years on the Russian tech scene, and an all-time record in the online video segment.   The consortium of investors includes several big names, combining two major …

Online video leader IVI raises $250 million from state and private investors, keeps western IPO potential Read More

Russian pulp and paper billionaire backs startup that recognizes fashion items in TV programs

May 25, 2021

Russian billionaire Zakhar Smushkin — chairman of the Ilim pulp and paper group and #122 in the Forbes ranking of top Russian businessmen — intends to invest 400 million rubles in an adtech startup called Vieweo. This capital injection (equivalent to $5.5 million at the current exchange rate) will be made until the end of …

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Russian neurotech startup raises $7.4 million to “accelerate computer-integrated human evolution”

June 2, 2021

A Moscow-based startup called Neiry is developing “human-friendly neural interfaces” applicable to a variety of daily tasks — from gaming and entertainment, to medical therapy, to training, to business. Supported by Russian state innovation programs, this startup believes it can “improve and restore human abilities and functions that were previously unattainable,” and contribute to “the acceleration …

Russian neurotech startup raises $7.4 million to “accelerate computer-integrated human evolution” Read More

Russian-founded food delivery services make their way in western markets

June 21, 2021

In this second coronavirus spring, Russian-founded food delivery services are making their way in western countries. One of them is Getfaster.io, a German fresh product retail and delivery company launched in 2020 by former X5 executive Dmitry Bergelson alongside with Georgy Skalsky, Kirill Solonitsyn and Anton Zakharov.  After starting operations in Düsseldorf in January 2021, the company …

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A new wave of funds: Russian investors assert themselves on the domestic and global markets

May 21, 2021

The Russian venture scene is tiny, but vigorous: several new funds were announced over the past few weeks, targeting a variety of sectors and geographies, sometimes with very specific approaches.. 10 billion rubles for Russian tech startups One of these new funds was announced by TealTech Capital, a PE/VC firm owned by Yury Alasheev, Andrey Ivashchenko and Andrey …

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This fast-growing delivery startup from Southern Russia raises millions to challenge market leaders

May 12, 2021

Earlier this month Russian delivery service Broniboy raised 100 million rubles ($1.35 million at the current exchange rate) at a 3 billion ruble valuation ($40 million), reports Rusbase.  This fast-growing company, which already operates in six Russian cities including Moscow, raised 130 million in a previous round, and plans to attract an additional 800 millions rubles next year.  …

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Sberbank promises to double online ecosystem investments over the next three years

May 5, 2021

In September last year Sberbank, the state-controlled financial and digital giant, rebranded itself to just ‘Sber,’ dropping the word “bank” from its name, but the change has not really caught on. The management is now ramping up its rebranding drive and has promised to double investment into building its new “bank plus everything else” online …

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Sber chairman concedes “complex problems” with Mail.Ru, but dismisses divorce rumors

April 30, 2021

Sber and Mail.ru Group are not on the brink of divorce, said Sber’s chairman Herman Gref in a media interview last week, dismissing repeated rumors and reports. Gref conceded that “complex problems” do occur with Mail.Ru, since their respective ecosystems partly intersect, but “we have very good relations and do find solutions.”  There is less …

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Private-public partnership launches $69 million smart city program in Russia’s Far East

September 14, 2021

Digital Primorye, a smart city solution provider launched by the Far East High Technology Fund (FEHTF) and VessoLink Group,  is working on some 30 projects to develop digital services and high tech systems in such sectors as transport, public utilities, education, health care, and more..  These projects are taking shape in Primorye, a Far Eastern Russian region that …

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