Venture / Private equity

Russian VC market in crisis: volumes and valuations fell sharply in 2022

January 31, 2023

Russia’s venture market, which hardly even reached $1 billion in pre-war years, is enduring hard times.  In the first half of 2022, it fell by almost 40% in volume, according to industry research agency DSight, cited by industry news site PlusWorld. Company valuations in the tech sector have fallen dramatically, according to a study from Skolkovo and Tinkoff Private. …

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Russian-founded tech migration platform wins €1 million at Slush, spurring controversy over solidarity with Ukraine

November 22, 2022

Immigram, a UK-based tech immigration platform, has won first prize at Slush, Helsinki’s yearly top tech event.  The Russian-founded startup will receive €1 million in investment coming from top global investors including Accel, General Catalyst, Lightspeed, NEA and Northzone.  Immigram had raised half a million just six months ago, earning trust from Joint Journey and Xploration …

Russian-founded tech migration platform wins €1 million at Slush, spurring controversy over solidarity with Ukraine Read More

Where’s funding going in former Soviet states? Not Russia

September 27, 2022

When the Soviet Union splintered into separate nations in the early 1990s, it contained exactly zero hubs for venture-backed tech startups. Three decades later, of course, the picture is quite different. Metro areas in multiple former Soviet countries now have a rich concentration of tech founders. Capital has followed. But as one might expect, geopolitics …

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Ukrainian-founded startup Adwisely backed by diverse pool of investors in Silicon Valley

July 6, 2022

Adwisely, a startup founded in Ukraine in 2018 — previously known as Retarget App — is making its way in Silicon Valley. Six months after moving its headquarters there, with a team of Ukrainian pros distributed across the world, the company has just announced the completion of a $1.5 million round of funding. London-based TMT …

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State fund invests 520 million rubles in edtech platform Profilum

July 6, 2022

Earlier this month VEB Ventures, the venture arm of state-owned development corporation VEB.RF, announced a 520 million ruble investment (some $6.5 million at the pre-war exchange rate) in edtech platform Profilum. This deal was one of the most sizeable ones of the past months on the local venture scene, which has entered a semi-hibernation phase since …

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How this Moscow-based VC investor navigates uncertainty in times of war

July 12, 2022

Sergey Dashkov, who has had a start in business as the exclusive partner of Ahmad Tea in Russia, rose to become one of the most engaged early-stage investors in the Russian venture capital space. Describing his investment thesis as industry-agnostic, most of Dashkov’s portfolio right now consists of companies operating outside of Russia.  “We love …

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Russian IT major Lanit pours 3 billion rubles into B2B online store

May 19, 2022

Itogo.ru, an online B2B and B2C seller of electronic goods and home appliances — from smartphones to microwave ovens — has raised 3 billion rubles from Lanit Ventures. This fund, the historic investor of Itogo, is the venture arm of Lanit, a major Russian IT group. By Russian standards, this is a sizeable amount (around …

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Food delivery service Broniboy lands 500 million rubles from major farming commodities group

April 11, 2022

In late March Russian delivery service Broniboy received the first tranche of a 500 million ruble capital injection (some $6.25 million at the pre-war level). The funding is provided by Krasnodarzernoprodukt, a major supplier of farming commodities and services. The terms of the deal were not disclosed. While serving 17 Russian cities, Broniboy is the …

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Abu Dhabi sovereign wealth fund suspends investments in Russia

April 11, 2022

Abu Dhabi sovereign wealth fund Mubadala Investment Company has suspended its investments in Russia due to the Ukraine crisis, one of its top executive said last week. “What is happening in this crisis between Russia and Ukraine is a travesty, with catastrophic consequences, in terms of human life and in terms of the impact it’s having on economies all …

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Russian startup raises millions to revolutionize garbage collection

March 19, 2022

East-West Digital News is happy to bring to its readers this business-as-usual, non war-related story. As industry publication RB.RU just reported, a Russian garbage recycling technology startup called Ubirator raised 170 million rubles (some $2.25 million at the pre-war exchange rate).  Founded in 2018 by Nikita Nikishkin and Alexey Khatskevich, two MIPT (PhysTech) graduates, Ubirator …

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How two Russian-founded startups in the US became collateral victims of Putin’s war on Ukraine

March 14, 2022

After Russian entrepreneurs asserted themselves last year as chief disruptors in the global food delivery industry —  fulfilling orders in around 15 minutes in a variety of Western cities — some of them are now falling as collateral victims of Putin’s war on Ukraine.  In early March Buyk — a fresh food delivery service with sizeable operations in New York and Chicago — abruptly …

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Global startup funding announcements slowed dramatically following Russia’s attack on Ukraine

March 6, 2022

Following Russia’s invasion of Ukraine, global venture funding announcements and disclosures have slowed dramatically. Since last Thursday, when the attack commenced, just 154 companies across the globe have revealed a seed, early- or late-stage venture investment of disclosed size, per Crunchbase data . Altogether, those rounds totaled $3.65 billion.  That works out to an average of $912 …

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