Venture / Private equity

Fort Ross Ventures aims to invest $100 million across Russia and Eastern Europe

September 18, 2020

Just weeks after The Untitled announced plans to launch a new venture fund for Russia and Eastern Europe, Fort Ross Ventures, another Russia-connected VC firm, shared news about a similar initiative.  Dubbed ‘Fort Ross Seed Fund,’ the new venture vehicle is the third fund managed by Fort Ross, following SBT Ventures I and II. It …

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Swedish, Malaysian and French investors back Russian startups

September 20, 2020

Russian startup NaPopravku (“for cure”), an online service for medical appointments, has raised $2.25 million for further domestic expansion and mobile developments, reported industry publication Rusbase.  The investor pool includes the Russian investment holding Avenir, which has a variety of tech companies in its portfolio; the Swedish VC fund VNV, which is renowned for its …

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Russian venture trends: The impact of Covid-19 and the rise of open innovation (online event, Sept. 23)

September 17, 2020

On Sept. 23, venture analytics agency Dsight will hold an online event to present its latest report on Russian venture activity and discuss industry trends. Special attention will be brought to such topics as: The rise of open innovation and corporate tech scouting in Russia; The implications of COVID-19 for the venture capital industry in …

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MTS corporate fund invests in financial app Coinkeeper

September 14, 2020

The corporate venture fund of MTS, a leading Russian mobile operator, is investing 125 million rubles (around $1.7 million at the current exchange rate) in personal finance app Coinkeeper. Coinkeeper claims 350,000 users all over the world whom it helps “make the right financial decisions” from expense forecasting, to advanced analytics, to the management of …

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The Untitled aims to raise €50 million to bridge Eastern European startups with Western Europe

July 14, 2021

The Untitled, a Russian venture firm established in 2013, is raising a new vehicle to invest across Eastern Europe with a focus on the former Soviet Union. With a €50 million target, the new fund will seek to invest at the seed and pre-Series A stages in such segments as B2B software, robotics, artificial intelligence, …

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Mail.ru Group and Sberbank invest again in food delivery

November 12, 2020

Mail.ru Group and Sberbank are increasing their stake in food delivery service Local Kitchen (‘Kukhnya na rayone’) through their joint venture O2O. After the acquisition of a 30% share in May for nearly $3.9 million, O2O is to own 84.7% of the company after deal completion scheduled for Q4 2020. Some of Local Kitchen’ services are …

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Target Global bets on Russo-Estonian startup “to disrupt crypto payments”

September 8, 2020

Last week Mercuryo.io, a Russian-founded startup based in Estonia, announced the completion of its first round of funding, having received €2.5 million from Target Global.  Mercuryo.io has built a cross-border cryptocurrency payment network for businesses – allowing for transactions from and to anywhere in the world. This infrastructure offers solutions for virtual accounts, business payments, …

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Russian 3D scan provider secures $1.5 million to “digitize the entire planet”

September 4, 2020

Two major Russian corporate funds, Rusnano Sistema and the IIDF, have just announced an investment in Texel, a startup which has designed an advanced 3D scan technology. The capital injection, which amounts to 110 million rubles, or $1.46 million at the current exchange rate, will be used to boost Texel’s international expansion. Over the past two years, …

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Digital Horizon invests in African healthcare startup

August 31, 2020

While the USA and Western Europe are the most usual playing ground for VC funds with Russian connections, there are some exceptions. Digital Horizon, an investment company with offices in London, Moscow and Tel Aviv, announced an investment in Healthlane, an African startup providing healthcare services in Nigeria and Cameroon. Healthlane’s approach combines remote and face-to-face health …

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Mail.Ru and Sberbank inject $160 million in their foodtech and mobility JV

November 12, 2020

Last week Mail.ru Group, the LSE-listed Russian Internet major, and Sberbank, the state-controlled financial and technology giant, announced a capital injection of 12 billion rubles (approximately $160 million) to develop their ‘O2O’ joint venture. Agreed in June last year, this JV combines the businesses of the two groups across a variety of fields, from ride-hailing …

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Russian-founded startup secures $4 million to spread high-tech farming across cities of the world

November 11, 2020

iFarm, a startup founded in Siberia but now headquartered in Helsinki, Finland, has secured $4 million from an international pool of investors led by Gagarin Capital. This California-based VC firm had led a previous $1 million round in early 2019. iFarm’s turnkey solutions “enable anyone to grow fresh vegetables, berries, greens and edible flowers for …

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Rusnano to invest more than $50 million in digital technologies

October 12, 2020

Rusnano, the Russian state-controlled nanotechnology corporation, has created a 4 billion ruble fund (around $53 million) to invest in digital technologies. Half of this amount came from state coffers as part of a national program to develop Russia’s digital economy, reported industry publication CNews.ru. Starting from the end of this year, under plans, the fund …

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