Venture / Private equity

This techie from a small Siberian town co-owns a $6 billion German HR tech startup

October 26, 2021

The impressive list of Russian entrepreneurs involved in multi billion dollar tech companies — from Pavel Durov (VK, Telegram), to Andrew Filev (Wrike), to Nikolay Storonsky (Revolut), to Ratmir Timashev (Veeam Software), and many more — is not coming to an end. 31-year-old Arseniy Vershinin,  who was born in Ulan Ude, a small town in Siberia, is also one of them. A …

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New Russian delivery services launched in London, Oman and Vancouver

October 25, 2021

As part of an already established trend, the past few weeks saw Russian players assert themselves again on the international express delivery scene. In early October, two Russian entrepreneurs, Yevgeny Bisovka and Razmik Sukiasov, announced they completed a $6.1 million round of funding to develop their service Tiggy in Vancouver, Canada. This company offers “free 15-minute grocery delivery with …

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Russian-founded startup raises $4.5 million to reinvent the Rubik’s Cube

October 21, 2021

WowCube, a startup founded by IT entrepreneur Ilya Osipov from Nizhny Novgorod, is reinventing the Rubik’s cube. Launched in 2017, the company touts itself as “the first-in-class innovative gaming platform where virtual gameplay is controlled by physically tilting, twisting, and shaking the device.” According to CrunchBase data, the company — now registered in Florida — …

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Adtech major Admitad buys two Russian startups, opens US office to “expand aggressively”

October 26, 2021

Admitad, an international affiliate network with Russian roots, announced two acquisitions this month, targeting Russian startups CheckScan and Pampadu.   The previous has developed a QR code scanner for receipts that allows customers to analyze their spending and compare prices across various outlets. CheckScan claims to  processes over 2 million receipts a day, serving “hundreds of thousands of consumers” across the …

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In 2021, Mail.Ru and Sber injected $600 million in their mobility and foodtech JV

October 13, 2021

Last week Mail.ru Group, the LSE-listed Russian Internet major, and Sber (ex-Sberbank), the state-controlled financial and technology giant, announced an injection of 12.2 billion rubles (around $170 million) into their O2O joint venture. The latest capital increase brought the total amount they put in the JV this year to 43 billion rubles (around $600 million at the …

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Mail.ru Group pursues gaming acquisitions across Russia and Belarus

October 14, 2021

Mail.ru Group’s appetite for acquisitions in the gaming space was confirmed again today as My.Games Venture Capital (MGVC), the investment arm of its subsidiary My.Games, announced minority investments in three game studios. These are Tworogue Games and VOX, based in Moscow, and Wideview Games from Minsk, Belarus.  MGVC put on the table $3 million in total for these deals, which include options to …

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Report: Russian venture market hit $1 billion mark in H1 2021

December 31, 2021

Dsight, a Moscow based business intelligence company with a focus on investment, has just released the English version of its Russian venture report covering the first half of 2021.  In contrast with last year’s disappointing numbers, the market showed signs of renewed growth earlier this year, with total deal value exceeding $1 billion for the first semester. This is an …

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Russian pregnancy app reaches 10 million users globally, raises $2 million to pursue expansion

October 5, 2021

Amma Pregnancy Tracker, a fast-growing, Russian-made mobile application for pregnant women, has attracted $2 million to fuel its international expansion. The startup plans to develop teams in Latin America, its largest market today by number of users, as well as in Southeast Asia, and to grow its 10 million+ user base.   This app helps …

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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 …

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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, …

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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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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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