Finance

Russian-founded graphene nanotube leader aims to raise up to $800 million through SPAC merger

October 11, 2021

OCSiAl, the Russian-founded global graphene nanotube leader (pronounced ‘Oxial’), intends to get listed on a Western exchange until the end of this year by merging with a SPAC. The company aims for a $3 billion valuation, its co-founder Yuri Koropachinsky told Forbes Russia last week.  “We’re having very deep discussions with nine SPAC companies,” he said.  SPACs are becoming trendy among Russian-founded …

Russian-founded graphene nanotube leader aims to raise up to $800 million through SPAC merger Read More

Russian-founded Jiffy raises $28 million to roll-out super fast food delivery service in the UK

September 27, 2021

Jiffy, a 10 month-old UK grocery delivery and dark store startup, has secured a $28 million Series A round. Coming after two funding rounds completed earlier this year, this capital injection brings to $35 million the total amount raised so far by the startup, as reported by TechCrunch. Led by family-owned investment company Heartland, the round was supported by Baring Vostok, …

Russian-founded Jiffy raises $28 million to roll-out super fast food delivery service in the UK Read More

Amid market breakthroughs and geopolitical crises: 20 years of venture capitalism in Russia

September 24, 2021

The Russian venture market, which barely reached $700 million in 2020, could double this year, if judging by the performance of the first semester. Since it started to emerge in the nineties, this market experienced periods of growth, followed by crisis shocks which threw it down repeatedly. Alexey Solovyov, a figure of the Russian venture …

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M.Video-Eldorado acquires online lending platform, aims to deploy fintech services “across the entire Russian retail market”

September 23, 2021

Russian consumer electronics major M.Video-Eldorado Group announces today the full acquisition of online lending platform Direct Credit as part of its strategy to develop its “promising fintech business.” The transaction amounted to 1.3 billion rubles (nearly $18 million at the current exchange rate). Direct Credit services will be integrated into in the group’s fast-growing OneRetail platform, both online …

M.Video-Eldorado acquires online lending platform, aims to deploy fintech services “across the entire Russian retail market” Read More

Yandex teams up with top US funds to commercialize database management solutions

September 22, 2021

Earlier this week Yandex, the NASDAQ-listed Russian digital giant, announced the incorporation of ClickHouse as a legal entity. This spinoff aims to provide commercial impetus to what was so far essentially a community-led open source activity around distributed database management systems (DBMS).  Under plans, new commercial products will be developed — including, for example, a cloud-based version of DBMS …

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Russian Softline pursues international expansion in Baltic states, Belarus, Egypt

September 28, 2021

Softline, an international solution and service provider with Russian roots, is pursuing its international expansion with two deals announced this month, ahead of a potential London IPO. The group announced it acquired the licensing business of Squalio, an international data technology company, in the Baltic states (Estonia, Latvia and Lithuania) and Belarus Belarus and Estonia. Founded in 1997 in Latvia, Squalio has representative …

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Global meal kit delivery giant HelloFresh invests in Russian counterpart Chefmarket

September 20, 2021

HelloFresh, the Germany-based international meal kit giant, has acquired an “approximately 10% stake” in its Russian counterpart Chefmarket. The amount of this investment (a capital injection) was not disclosed, but the companies mentioned a “single-digit million euro figure” in their announcement last week.  The deal is touted as “a strategic step for HelloFresh to tap into an emerging market with significant growth potential,” …

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Russian mobile operator MTS to invest $100 million in AI startups across the world

October 11, 2021

MTS AI, the artificial intelligence arm of Russian telco MTS, is launching an international acceleration program and venture fund to invest in AI startups across the world. Dubbed ‘Intema,’ the platform plans to invest some $100 million in startups from late seed up to Series B. The investments focus on language, image and behavior analytics, edge computing and logistics, Alexey Posternak, CFO …

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This Siberian-born unicorn is now among the world’s top ride-hailing apps

September 23, 2021

A new unicorn emerged discretely earlier this year in the globalized Russian-speaking startup entrepreneur community. InDriver, a ride-hailing app founded in Yakutsk, Siberia, back in 2012, was valued at $1.23 billion as it raised $150 million this past February from leading North American funds. The deal remained undisclosed until last week, when InDriver’s founder Arsen …

This Siberian-born unicorn is now among the world’s top ride-hailing apps Read More

New Russian fund intends to invest $100 million in AI/ML projects across Europe and Israel

September 14, 2021

The Russian investment club Promising Projects and the AI Cluster of the Novosibirsk Akademgorodok have teamed up to launch a $100 million fund focusing on AI, ML, data mathematics and cybersecurity. Dubbed ‘AI 1 Ventures’ and incorporated in Luxembourg, the new fund targets such areas as Eastern and Western Europe, including the Baltic states, as well as Israel. Tickets from $250,000 to $5 …

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Cian, Delimobil target New York IPOs this autumn

November 9, 2021

Russian car-sharing major Delimobil and online real estate classifieds leader Cian are considering US IPOs this autumn, hoping to raise around $350 million each, according to “financial market sources” cited by Reuters on Tuesday.  Delimobil, which announced a $75 million private equity round this past June, is now eyeing a $350 million listing on the New York Stock Exchange and a …

Cian, Delimobil target New York IPOs this autumn Read More

Sber considers listing digital subsidiaries in a few years

September 6, 2021

Sber, the state-controlled financial and digital giant, considers having some of its digital subsidiaries listed, stated Sber President Herman Gref last week on the sidelines of the Eastern Economic Forum, reiterating previous statements.  The placement, however, would not take place before 2023, news agency Interfax reported Gref as saying.  Sber’s digital ecosystem includes a myriad of companies in the …

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