Finance

Russian startup Botkin.AI attracts $1.5 million to better diagnose cancer at early stages

December 25, 2020

Skolkovo resident Intellogic has attracted 100 million rubles (more than $1.5 million at the current exchange rate) in a Series A round for its Botkin.AI startup that diagnoses cancer. At present, this technology can diagnose lung cancer at early stages with an accuracy of 95%, Forbes reported. Part of the funding came from two Russian funds: RBC Capital, which …

Russian startup Botkin.AI attracts $1.5 million to better diagnose cancer at early stages Read More

Major Russian and international investors to inject $40 million in leading online video platform

June 11, 2019

A group of top Russian and foreign investors is committed to inject $40 million in ivi.ru, Russia’s largest online video platform in terms of revenue. The exact terms of the deal, which is set to be closed by late July, have not been disclosed.  These investors include Russia’s sovereign fund RDIF, Mubadala Investment Company (UAE), Baring …

Major Russian and international investors to inject $40 million in leading online video platform Read More

Russian sovereign fund agrees $3 billion high-tech investment partnerships with Middle East, Chinese players

June 11, 2019

Last month the Russian Direct Investment Fund (RDIF) received $2 billion from foreign investors to support Russian startups developing AI projects, the business daily Vedomosti reported, citing exchanges with RDIF representatives. The money came from sovereign funds and global corporations in the Middle East and Asia, including the UAE.  The RDIF plans to invest variable amounts in …

Russian sovereign fund agrees $3 billion high-tech investment partnerships with Middle East, Chinese players Read More

Huawei acquires Russian face recognition technology

June 10, 2019

Chinese electronics manufacturer Huawei has acquired the face recognition technology of Russian startup Vocord, with patents and equipment and hiring most of the related team, as reported by business daily Vedomosti. According to the official company register, the deal took place on May 17 when Huawei subsidiaries fully acquired Moscow-based Eagle Softlab. Earlier this year, Eagle Softlab, …

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Alibaba, Mail.Ru, MegaFon and RDIF commit to invest nearly $400 million in Russian social commerce joint venture

July 13, 2019

Yesterday Alibaba, Mail.Ru Group, Russian telco MegaFon and sovereign fund Russian Direct Investment Fund (RDIF) announced they received approval from Russia’s antimonopoly authorities for their “social commerce joint venture.” The JV will leverage on the existing businesses of AliExpress Russia, the B2C marketplace owned by Alibaba which controls a large part of the e-commerce flows between China and Russia. The partners …

Alibaba, Mail.Ru, MegaFon and RDIF commit to invest nearly $400 million in Russian social commerce joint venture Read More

German DEG and Da Vinci Capital invest in DataArt, a global tech consultancy with roots in Eastern Europe

June 6, 2019

 Last week German development finance institution DEG  announced it provided equity funding to DataArt, a leading global developer of complex IT solutions. The amount of the deal was not disclosed. Alongside DEG, this venture round was backed by Da Vinci Capital – a major EBRD-backed and PE firm focusing on Russia and neighboring countries which already provided funding to …

German DEG and Da Vinci Capital invest in DataArt, a global tech consultancy with roots in Eastern Europe Read More

Lamoda posts 23.5% sales growth year-on-year, develops marketplace model

July 30, 2019

Lamoda, a Western-founded and managed Russian e-commerce leader in the fashion segment, saw its sales surge by 23.5% year-on-year in Q1 2019. During this quarter, the platform’s sales exceeded €111 million, including Lamoda’s business in Russia, Belarus, Ukraine, and Kazakhstan. Also included in this number are Lamoda’s marketplace sales. These grew more than threefold in …

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Russian medical insurance startup attracts $3 million for international expansion

May 31, 2019

Earlier this month Moscow-based startup BestDoctor, which offers high-tech insurance products for individuals and businesses, attracted $3 million in a Series A round of funding.  The round was lead by three international venture firms with Russian roots: Target Global, Ascent and AddVenture. (The two latter already invested in BestDoctor in previous rounds.) A group of business angels also participated …

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Mail.Ru Group acquires online recruiting service Worki

May 30, 2019

Moscow-based online recruiting service Worki, “is now part of Mail.Ru Group,” the company reported in its blog, without specifying the size and price of the stake acquired by the group. “After the deal is settled, Worki will work in synergy with other projects of Mail.ru Group, including its classifieds website Youla, thus increasing the group’s presence on the …

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Kendrick White: “Shifting to the innovation economy requires a change in investors’ mindset”

May 29, 2019

The Russian venture capital market is yet to take proper shape whereas startup entrepreneurs and investors often feel disappointed in their expectations and financial realities. US citizen Kendrick D. White, who has dedicated the last 20 years of his professional life to bridging Russia with the global tech and venture markets, shared his views on …

Kendrick White: “Shifting to the innovation economy requires a change in investors’ mindset” Read More

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