Finance

Yandex and Uber form dedicated company for self-driving business

September 6, 2020

Yandex and Uber yesterday announced agreements to spin off their self-driving vehicle business from Yandex.Taxi, the taxi-hailing and food tech joint venture they formed three years ago. The spin-off, dubbed ‘Yandex Self Driving Group B.V.’ or ‘Yandex SDG,’ will be directly owned by Yandex and Uber.  The NASDAQ-listed Russian Internet giant will invest $150 million in the new company, on …

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Russian 3D scan provider secures $1.5 million to “digitize the entire planet”

September 4, 2020

Two major Russian corporate funds, Rusnano Sistema and the IIDF, have just announced an investment in Texel, a startup which has designed an advanced 3D scan technology. The capital injection, which amounts to 110 million rubles, or $1.46 million at the current exchange rate, will be used to boost Texel’s international expansion. Over the past two years, …

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Digital Horizon invests in African healthcare startup

August 31, 2020

While the USA and Western Europe are the most usual playing ground for VC funds with Russian connections, there are some exceptions. Digital Horizon, an investment company with offices in London, Moscow and Tel Aviv, announced an investment in Healthlane, an African startup providing healthcare services in Nigeria and Cameroon. Healthlane’s approach combines remote and face-to-face health …

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Mail.Ru and Sberbank inject $160 million in their foodtech and mobility JV

November 12, 2020

Last week Mail.ru Group, the LSE-listed Russian Internet major, and Sberbank, the state-controlled financial and technology giant, announced a capital injection of 12 billion rubles (approximately $160 million) to develop their ‘O2O’ joint venture. Agreed in June last year, this JV combines the businesses of the two groups across a variety of fields, from ride-hailing …

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Russian-founded startup secures $4 million to spread high-tech farming across cities of the world

November 11, 2020

iFarm, a startup founded in Siberia but now headquartered in Helsinki, Finland, has secured $4 million from an international pool of investors led by Gagarin Capital. This California-based VC firm had led a previous $1 million round in early 2019. iFarm’s turnkey solutions “enable anyone to grow fresh vegetables, berries, greens and edible flowers for …

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Rusnano to invest more than $50 million in digital technologies

October 12, 2020

Rusnano, the Russian state-controlled nanotechnology corporation, has created a 4 billion ruble fund (around $53 million) to invest in digital technologies. Half of this amount came from state coffers as part of a national program to develop Russia’s digital economy, reported industry publication CNews.ru. Starting from the end of this year, under plans, the fund …

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Roman Abramovich backs game publisher to design “fun, thrilling, and engaging entertainment experiences”

August 18, 2020

Norma Investment, a venture firm affiliated to Russian billionaire Roman Abramovich, has taken part in a $20 million round of funding for Russian game publisher 110 Industries.   GEM Capital, an investment company founded by a top executive from the Russian oil and gas industry, and Sergey Kornikhin, a film producer, also contributed to the …

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Russian-born startup helps students make their international education dreams come true

December 28, 2020

Can you study in a top US, Chinese or European university when you have no money and lack family support? The answer is yes, as demonstrated by StudyFree, an online service that helps applicants increase their chances to get a scholarship and be admitted to educational institutions. Now claiming 23,000 users across the world, StudyFree …

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In Singapore, a Russian-born startup uses AI to penetrate the mysteries of human longevity

August 13, 2020

Can artificial intelligence and machine learning help mankind address diseases related to ageing, and delay mortality?  Gero, a Singaporean company with Russian roots, believes so. To address this biological and technological challenge, Gero has teamed up with the National University of Singapore, conducting experiments involving aged animals. These works “demonstrated mortality delay (life-extension) and functional …

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Admitad owner invests $3 million in cashback service

August 4, 2020

Earlier this month AB Capital Group, the owner of international affiliate network Admitad, announced an investment of $3 million in cashback service company LetyShops. Founded by Ukrainian entrepreneurs in 2015, LetyShops is now headquartered Csomád, Pest, Hungary. Its service is available in seven languages, claiming a total of 2400 online shops and 12 million users. It stands as “one of the top cashback …

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AddVenture, Target Global and Lev Leviev invest $4.5 millon in Russian medical insurance startup

July 30, 2020

A Russian medical insurance startup called BestDoctor has raised $4.5 million from major Russian investors. These include AddVenture, a pioneer in the Russian venture business, Target Global, a fund with Russian roots operating from Berlin, and LVL1, the investment company of Russian-Israeli Lev Leviev. This is BestDoctor’s third round of equity funding since inception in …

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Sberbank to increase its hold on top media group Rambler

July 29, 2020

Sberbank, Russia’s state-controlled financial and tech behemoth, plans to increase its share of Rambler Group, a major online media and entertainment group. Following the acquisition of a 46.5% stake in August last year, Sberbank is now preparing for an additional investment “to ensure the group’s absolute leadership in the market.” The investment is set to total 2 …

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