Finance

Yandex.Taxi acquires assets in the taxi industry in spite of Mail.Ru’s veto

February 8, 2021

Yandex.Taxi, the taxi-hailing and food delivery joint venture of Yandex and Uber (formally called ‘MLU’), has completed the acquisition of the call centers and cargo business of Vezet Group.   ‘Vezet’ means “it’s giving a ride” or “to be in luck” in Russian. Established in May 2017 (resulting from the merger of two local companies), Vezet Group provides ride-hailing, cargo …

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Russian neurotech startup Wikium raises millions to improve cognitive capacities and increase stress resistance

February 5, 2021

Last week, a sizable deal in the field of neurosciences was announced in Russia. Maxim Basov, an executive from the agro industry, has invested in Wikium, an award-winning startup offering brain productivity exercises for office staff and students. Basov took control of the company, acquiring a 66% stake, Rusbase reported. The amount of the deal was not disclosed, but Rusbase noted …

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Tencent backs Russian game studio to re-create robotized Soviet atmosphere

February 5, 2021

Russian game publisher Mundfish has secured a Series B funding round led by Tencent. Two existing investors — Moscow-based GEM Capital  the investment vehicle of oil industry executive Anatoliy Paliy and Gaijin Entertainment’s founder Anton Yudintsev — also took part in the deal. The amount of the capital injection was not disclosed, but industry insiders told Russian business …

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Sber to invest more than $400 million in Goods.ru in a bid for e-commerce leadership

January 28, 2021

Sber, Russia’s state-controlled financial and tech giant (previously known as Sberbank), announced today a new partnership to assert itself in the Russian e-commerce space.  Just weeks after agreeing an alliance with Merlion, Sber signed a “memorandum of intent” with M.Video-Eldorado Group — a competitor of Merlion in the field of electronic goods — to “join hands in developing the …

Sber to invest more than $400 million in Goods.ru in a bid for e-commerce leadership Read More

Russian telecom majors MegaFon and MTS invest in the startup space

August 30, 2021

MegaFon, a major Russian mobile operator and retailer, has increased its stake in video service Start to 50%, as reported by business daily Kommersant.  The move follows the acquisition of 33.8% of the company, announced in October 2020. The valuation of the startup — which was founded in 2017 — could reach or exceed 4 billion rubles (some …

Russian telecom majors MegaFon and MTS invest in the startup space Read More

Elbrus Capital attracts major international players to invest in the Russian digital sphere

February 1, 2021

Elbrus Capital, a leading private equity firm focusing on Russia and neighboring countries, has attracted $260 million to launch its third fund. As reported by business daily Kommersant, the firm aims to raise $600 million in total until the end 2022 for this new fund, which will focus on Russian digital companies.  The first deals are …

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Dating Group acquires French ‘slow dating’ app Once for $18 million

January 27, 2021

Earlier this month Dating Group, a Russian-founded international dating major, announced the acquisition of French dating app Once for $18 million in cash and stock. Founded in 2015 by Jean Meyer and Clémentine Lalande, Once aims to “brings back the magic to the online dating world.”  It claims 9 million users, 5 million chats daily and 50 million …

Dating Group acquires French ‘slow dating’ app Once for $18 million Read More

2020 in Eastern Europe: Battle of titans in Russia; revolution in Belarus; resilience in Ukraine

January 26, 2021

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia and other countries of the former Soviet Union. The latest column, by EWDN chief editor Adrien Henni, highlights the most notable industry facts and trends of the past year.  These include, in particular: Major moves from the three Russian digital leaders: Mail.ru …

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Andrew Filev, a geek from St. Petersburg, sells his company for $2.25 billion in Silicon Valley

January 28, 2021

Citrix Systems announced today an agreement to acquire Wrike, a leader in SaaS collaborative work management, for $2.25 billion in cash. Still subject to regulatory approvals, the transaction is expected to close in the first half of this year.  “The transaction unites leading workspace delivery platform with best-in-class SaaS work management solution, ushering in new era of employee productivity. This combination …

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Russian-American startup secures $3.5 million to address “the most burning needs” of the construction industry

January 21, 2021

TraceAir, a construction software startup with Russian roots, announces the completion of its Series A $3.5 million round. It was led by London-based XTX Ventures with participation from Liquid 2 Ventures, GEM Capital, GPS Ventures, Andrew Filev (CEO Wrike), Metropolis.VC (which invested in a previous round) as well as US construction industry majors Independent Construction and ENGEO. TraceAir has developed a cloud platform to help construction companies …

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Moscow startup receives $4 million from state funds to develop high-tech prostheses

January 20, 2021

Motorica, a Moscow-based high-tech prosthetic startup, has attracted 300 million rubles (some $4 million at the current exchange rate) from two major government funds: the sovereign wealth fund RDIF and the Far-East High Technology Fund. The news was reported yesterday by business publication RBC, which cited exchanges with the Far-East fund’s press service.  Touting itself as “the only company in the world to make …

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Yandex invests in Russian DNA testing company

January 19, 2021

Last month, according to media reports, Russian DNA testing company Genotek raised $4 million in a funding round led by Yandex. No information was disclosed about the other investors or the terms of the deal, and Genotek did not answer EWDN’s media inquiries.  The company, founded in 2010, says it partners with “leadings Russian and European research institutes in the field of genetics and …

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