Finance

Russian software publisher ABBYY acquires US VAR Digital Documents

September 20, 2012 October 17, 2018

Abbyy, a Moscow-headquartered global provider of document recognition, data capture and linguistic technologies and services, announced last week it has acquired Digital Documents, a California-based value-added reseller (VAR) and systems integrator. Digital Documents provides with document capture, recognition and retrieval technologies for the healthcare, education, government, financial services and retail markets. The company claims it serves …

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Rusnano invests in US portable power technology developer

September 18, 2012 September 18, 2012

Lilliputian Systems, a developer of portable power products for consumer electronics, announced last week it has closed on $40 million of a planned $60 million equity financing round led by Rusnano. The Russian nanotechnology giant joins Lilliputian’s current blue chip investors including Intel Corporation, Kleiner Perkins Caufield & Byers, Altira Group, Stata Venture Partners, Atlas …

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Zoom Capital invests $30 million in e-commerce leader Vseinstrumenti.ru

September 17, 2012 September 17, 2012

The recent series of large scale investment in Russian e-commerce sites continues with Zoom Capital’s $30 million investment in Vseinstrumenti.ru, a website offering tools and appliances for use in homes and gardens as well as workshops and construction sites. Vseinstrumenti.ru (“All instruments” or “all tools” in Russian) is one of those Russian online retailers that are …

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Anti-counterfeit technology developer from the Urals receives $1 million from Moscow investor

September 17, 2012 September 17, 2012

QRGL, a startup established in Russia’s third largest city Ekaterinburg in the Ural mountains, secured $1 million from Veles Capital, a Moscow asset management company, regional portal 66.ru reported last week. Veles Capital will receive a two-third stake in the company. Founded in April 2010 by Pavel Medvedev, QRGL has developed an anti-counterfeit technology that …

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Lokata.ru secures new funding from E.Ventures and Bonial

September 17, 2012 September 17, 2012

Last week, Lokata.ru, a startup driving Internet and mobile users to offline stores, completed a new round of financing from German-American venture fund E.Ventures (formerly known as E-Ventures Capital Partners) and Bonial International Group, a German company which has developed similar projects in several European countries. The terms of the deal have not been disclosed. …

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Californian online air ticket discounter secures financing from Russian, Ukrainian and US investors

September 15, 2012 September 15, 2012

GetGoing.com, a San Francisco-based startup that offers a new approach to booking discounted air tickets, announced earlier this week that it has completed its second round of financing from prominent individual investors and funds. Neither the amount of the round nor the company’s valuation were disclosed. The investors include Yury Milner and his international fund …

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Online video service Ivi.ru secures $40 million from leading Russian and Western investors

September 11, 2012 September 11, 2012

Yesterday, just days after witnessing the financing rounds of online shoe retailer Lamoda.ru and travel site Onetwotrip.com, the Russian Internet scene saw another giant funding operation with Ivi.ru, a major video streaming service. Ivi.ru raised no less than $40 million from private equity firm Baring Vostok Capital Partners, a shareholder of Yandex and Ozon.ru, along with existing investors …

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The spark that ignited the Russian start-up scene

September 10, 2012 September 10, 2012

Startup Genome recently published research on the most active start-up ecosystems around the world. It listed Moscow as #10. It’s great to see Russia’s largest city rocket into this spot, given that in 2001 less than $100 million/year was invested in Russian seed and early stage tech vs. billions of dollars of private equity money …

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GVA and Summa to launch Plug and Play accelerators across Russia and CIS

September 9, 2012 September 9, 2012

Global Venture Alliance (GVA) and the Summa Group yesterday announced an agreement with leading California accelerator Plug and Play Tech Center to create Plug and Play affiliates across Russia and other former Soviet republics. Following the opening of the first Russian Plug and Play in Moscow last June, new accelerators will be created in Daghestan, …

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Air ticket booking site Onetwotrip secures $9 million from Phenomen Ventures

September 7, 2012 September 7, 2012

Onetwotrip.com, a rising star in the Russian online travel market, has just raised approximately $9 million from Phenomen Ventures, yielding a minority stake to the fund. The startup’s valuation has not been disclosed, but the Russian business daily Kommersant reported it might have been in the range of $70 million. Onetwotrip was launched in May …

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Mail.ru Group acquires Ukrainian webmail service

September 6, 2012 September 6, 2012

Earlier this week, Mail.ru Group, a leading Russian Internet group listed on the London Stock Exchange, announced its acquisition of the Ukrainian webmail service ‘Mail.ua.’ Prior to the sale, the webmail service belonged to Internet Invest Group, Ukraine’s largest web hosting service provider. The price of the transaction was not disclosed, but Internetua.com, a Ukrainian …

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Social educational network Dnevnik.ru raises $5 million for international expansion

September 5, 2012 September 5, 2012

Runa Capital, a Moscow-based international venture fund, has invested $5 million in the educational startup at an undisclosed valuation. Dnevnik.ru was established in 2007 as a free, nationwide school network. The site currently serves 21,000 Russian and Ukrainian schools, attracting over 4 million pupils, parents, teachers, and school administrators – up 1 million in the …

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