Finance

Financial Times: Hopes of a ‘Russian Amazon’ hit by corporate rift

August 28, 2019

Yesterday the Financial Times published a long article analyzing the relationship between the Russian financial behemoth Sberbank and leading tech company Yandex. Following insisting rumors and recent market news, the British business daily puts at doubt the robustness of the e-commerce joint venture between the two companies.   “When the Russian banking giant Sberbank launched …

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Sberbank’s alliance with Mail.ru Group puts its partnership with Yandex under question

November 12, 2020

In a move that could have far-reaching strategic implications, Mail.ru Group and Sberbank – two giants of the Russian Internet listed on Western exchanges – yesterday announced a joint venture project to develop ride-hailing and food delivery activities. This is the first-ever cooperation of that type between these two companies, the Mail.ru Group press service …

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Russian corporate fund Sistema_VC backs UK agritech startup

July 26, 2019

Sistema_VC, one of the venture investment vehicles of Russian conglomerate Sistema, announces it has led a £3.4 million round for UK agrotech startup KisanHub. Two UK-based funds, Notion and IQ Capital also participated in the round.  KisanHub helps global food and beverage companies “manage their supply chains efficiently by connecting directly with their farmers to collect information and …

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Two acquisitions this week: Mail.ru Group gets “high spirits” in gaming and niche leader in adtech

July 20, 2019

This week Mail.ru Group, the LSE-listed Russian Internet giant, announced almost simultaneously two acquisitions: that of acquired Belarusian game studio Swag Masha through its gaming branch My.Games and that of Russian content & ad recommendation service Relap.io. Acquiring “an idea and high spirits” Founded in May 2018 and based in Minsk, Swag Masha is a small game …

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Russia’s largest housing developer acquires stake in Samokat e-grocery service

July 30, 2019

PIK Group, Russia’s largest residential property developer, has invested in the St Petersburg-based Samokat e-grocery service, Russian business daily RBC reported. The financial details of the deal were not disclosed. According to official company registers, PIK acquired 27% of Samokat through its Cyprus- and Russia-based mother companies. Among Samokat’s other major shareholders are Vladislav Bocharov (24%) and …

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Runa Capital raises $70 million to invest in ‘deep-tech’ startups

August 1, 2019

Runa Capital, a Palo Alto-headquartered venture investment firm with Russian roots, has closed $70 million for its third fund targeting early-stage “deep tech” startups. The firm started to market this fund a year and a half ago, seeking to raise some $135 million essentially from its existing LPs. Launched in 2011, Runa Capital’s first fund …

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Yandex.Taxi announces new acquisition to maintain leadership; Mail.ru Group claims veto right

November 12, 2020

Yandex.Taxi, the taxi-hailing company which merged activities in Russia and some neighboring countries with Uber last year, is planning a new acquisition to expand across Russian regions.  The company (formally called MLU) announced today an agreement to acquire the IP and call-centers of Vezet, a taxi-hailing service which is available in 123 Russian cities under …

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Emerging Travel Group secures $10 million from Lev Leviev, Igor and Dmitri Bukhman

July 30, 2019

Earlier this month Emerging Travel Group, an international online travel group with Russian connections, announced it raised $10 million in a Series E funding round. The investors are Russian-Israeli tech investor Lev Leviev – through his investment company LVL1 Group – and Igor and Dmitri Bukhman. The company hopes the investment will help it accelerate the …

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Mail.ru Group acquires stake in Performance Food delivery service

January 14, 2020

Mail.ru Group, a leading, LSE-listed Russian Internet company, has acquired a minority stake in Performance Food, a Moscow-based food delivery service specializing in premium healthy nutrition programs. The financial details of the deal were not disclosed. As reported by business daily Kommersant, which cites official company registers, MGL Mail.ru Equity Ltd, a Cyprus-based subsidiary of Mail.ru …

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Eastern Europe & Central Asia in June 2019: $400 million for Russian e-commerce, Russian money in the USA, UK, and India

July 13, 2019

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia and neighboring countries in Eastern Europe and Central Asia. Since January 2019, EWDN chief editor Adrien Henni has offered a monthly column to highlight the most notable industry facts and trends as well as promising tech innovations from these countries. The June review highlights the …

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Rostec, Russian Railways committed to create $100 million venture fund to support IT, IoT projects

July 10, 2019

Russian state defense conglomerate Rostec and Russian Railways have pledged to create a joint R&D center for LPWAN XNB wireless network devices as well as Internet-of-Things (IoT) technologies to be used on transport. To support such activities, the parties are going to launch a $100 million venture fund, Russian industry resource CNews.ru reported. Last month as part of …

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Russian ticket marketplace Eticket4 secures funding from Hong Kong

November 8, 2019

The Russian p2p ticket marketplace Eticket4 has sold 13% of its stock to Hong Kong-based GTSystem International in exchange for a $325,000 capital injection. The whole project was estimated at $2.5 million, Russian business daily Kommersant reported, citing exchanges with company founder Daniil Kruchinin. According to the official company register, the deal took place on July 4. Kruchinin …

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