Venture / Private equity

Russia’s Cleverbots launches AI solution marketplace and secures $1 million from agroindustrial group

December 8, 2020

Cleverbots, a Russian integrator of AI-powered enterprise solutions, has raised $1 million from the agroindustrial group AST. No details of the transaction were disclosed.  The fresh funding will allow Cleverbots to hire new employees, support marketing and scale the business both domestically and abroad. AST’s existing offices in Switzerland and the United Arab Emirates, may be used as launchpads for …

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This edtech startup grows by 500% y-o-y and raises millions from international investors

December 3, 2020

The Russian-born edtech startup Novakid has just completed a $4.25 million Series A round. The deal was led by Hungary-based PortfoLion and LearnStart, a major edtech-focused US fund, with participation from  TMT Investments and Xploration Capital. A previous $1.5 million funding round took place less than a year ago, involving South Korean VC BonAngels and Russian VC …

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Victor Orlovski of Fort Ross Ventures: “The pandemic has brought a lot of opportunities for disruptive startups”

December 3, 2020

Launched seven years ago in Silicon Valley with support from Sberbank, Fort Ross has made its Russian roots an advantage in the eyes of US startups seeking global development opportunities. The venture firm now aims to enlarge its coverage to Europe, with two new funds announced in the past months. Its General Partner Victor Orlovski …

Victor Orlovski of Fort Ross Ventures: “The pandemic has brought a lot of opportunities for disruptive startups” Read More

Sber invests in AI-powered brand reputation management

November 30, 2020

Sber, the state-controlled financial and tech giant (previously known as Sberbank) has acquired a 8% stake in Watchout!AI  in exchange for a acquired 8%. The startup was valued at 125 million rubles, or $1.6 million at the current exchange rate. Founded in 2019, Watchout!AI uses computer vision and machine learning algorithms to “easily detect and prevent brand …

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Leading Russian edtech startup Skyeng backed by two major investment firms

November 24, 2020

Skyeng, one of the most successful Russian startups, has received funding from two major investment firms, Winter Capital and Baring Vostok. The deal, which took place in October, was revealed only this past Friday by the Russian edition of Forbes magazine, based on exchanges with representatives of the parties involved.   Neither the amount invested …

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Global Fashion Group raises €120 million on German stock exchange; Lamoda expects capital injections

November 24, 2020

Last week Global Fashion Group (GFG), an international online fashion group focusing on growth markets – including Russia and neighboring countries where the group is represented by Lamoda – raised some €120 million in gross proceeds. The group issued new shares on the Frankfurt Stock Exchange, where it is has been listed since July 2019. These 16.5 million shares were placed with institutional …

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Russian corporate fund Sistema_VC backs again UK agritech startup KisanHub

November 23, 2020

For the second time in less than 18 months, Sistema_VC, one of the venture investment vehicles of Russian conglomerate Sistema, has backed UK agrotech startup KisanHub. The latest round, announced last week, provided £1.12 million ($1.49 million) to the Cambridge-headquartered startup. The round was led by Low Carbon Innovation Fund II (LCIF2) with co-investment matching coming from …

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New Russian AI and cloud investment firm backs 3D rendering company Megarender

November 19, 2020

Russian 3D rendering company Megarender has secured $3 million from Scalo Technologies, a firm launched earlier this year to invest in artificial intelligence and B2B cloud services. Megarender facilitates access to powerful servers to increase considerably the speed of 3D rendering. Customers may thus use such software as 3ds MAX, Arnold, Blender, Cinema 4D, Corona Renderer, …

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Michael Calvey freed from house arrest weeks after settlement of civil claims

November 13, 2020

American investor Michael Calvey and six other defendants in the Baring Vostok case have been released from house arrest, Russia’s Supreme Court ruled Thursday. This is the latest breakthrough in one of the most high-profile cases in the Putin era involving foreign businessmen. Their private equity fund, Baring Vostok, has been an investor in some of Russia’s …

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After raising $2.1 million, this Russian truck driving startup wants to become a unicorn

November 12, 2020

Fura, a Moscow-based startup offering high-tech services to truck drivers, has raised 160 million rubles ($2.1 million at the current exchange rate) in a Series A round led by an unnamed Swiss-Russian fund. Alexander Popov, Svyatoslav Vilde and other individual investors also took part in the round. The fresh funding will be used to strengthen the …

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OKS Group to invest $2.2 million in marketplace support service Upmarket

November 10, 2020

Upmarket, a service that helps e-merchants trade on marketplace, has agreed a 170 million ruble ($2.2 million) investment plan with OKS Group. The investor may get a 31% stake in the company by mid-2021, reports business daily Kommersant.  From content creation, to marketing strategy, to logistic support, Upmarket helps merchants place goods on three of Russia’s …

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Banki.ru founders sell their stake to settle conflict with US investor

November 24, 2020

An investor consortium led by Russian private equity firms Elbrus Capital and Winter Capital (the latter has Russian billionaire Vladimir Potanin among its limited partners) has acquired 60% of Banki.ru, a leading bank and insurance marketplace. The investors are buying all the shares of company founders Philipp and Kirill Ilyin-Adaev and Elena Ishcheeva for an undisclosed amount. Russia Partners, an …

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