Venture / Private equity

Dubai-based home services startup MoveSouq.com raises $3 million from Russia’s AddVenture

October 6, 2016

Dubai-based online home services marketplace MoveSouq.com has managed to capture investor attention all the way from Russia. MoveSouq has closed a US$3 million Series A funding round led by AddVenture, a Russia-based global venture capital firm. This fundraising is the startup’s third round, after seed and angel rounds in 2013 and 2015. Founded by former consultants Bana Shomali and Wim …

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Russia aims to attract foreign investors to build giant medtech cluster in North Caucasus

October 6, 2016

A giant medical technology cluster could be built in Mineralnye Vody, a city in Southern Russia, with participation from Russian and foreign private investors. The project may require an investment of 162 billion rubles (about $2.5 billion at the current exchange rate). The Russian government would contribute a quarter of this amount, or 40 billion …

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EBRD might resume activity in Russia next year

September 29, 2016

The London-based European Bank for Reconstruction and Development (EBRD) is considering to resume operations in Russia starting from next year, according local media reports. The bank’s shareholders might take their decision (positive or negative) in December or January, online publication Gazeta.ru wrote last week, referring to “an unnamed source close to the bank.” Contacted by …

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Russian media and telecom giants acquire stake in online marketplace in media-for-equity deal

September 22, 2016

Russian digital TV operator Tsifrovoe Televidenie (‘Digital Television’) has acquired a 25.1% stake in Greeder.ru, an online B2C marketplace launched recently, in a media-for-equity deal. The news was reported today in Russian business daily Kommersant  based on exchanges with top company executives. Greeder’s founder Sergey Bazylev has kept a 52.43% stake, while the remaining 22.47% stake …

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Rusnano and Sistema join forces to invest up to $100 million in Russia, Europe and Israel

September 19, 2016

Sistema, a Russian, LSE-listed conglomerate, and Rusnano, the state-owned nanotech giant, are launching a joint fund to support high tech projects. The new fund will focus on seed, growth and expansion stage high technology projects in Russia and neighboring countries, Europe and Israel with a focus on microelectronics, energy efficiency, robotics, IT and telecom, in particular. …

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Moscow accelerator GVA introduces Indian startups to the Russian market as the two countries bolster business ties

September 16, 2016

Global Venture Alliance (GVA), a Moscow-headquartered provider of business services, training programs and seed funding for startups, has teamed up with the Society for Innovation and Entrepreneurship (SINE), a major tech business incubator based in Mumbai, to launch the ‘India-Russia Bridge for Innovations’ (IRBI). As reported by BW Disrupt, an Indian online publication, the IRBI program enjoys the financial …

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Russian entreprise software leader 1C acquires restaurant software startup

September 13, 2016

Last month 1C, the Russian enterprise software giant, acquired a controlling stake in Moscow-based startup Quick Resto under undisclosed terms. 1C intends to develop the company further with its founders. Established in 2013, Quick Resto has developed a SaaS solution for restaurant business automation, requiring no specific hardware equipment. The startup, which became a resident company of Skolkovo, has carved a notable position …

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Blablacar reported to have raised €21.3 million from Baring Vostok

November 12, 2020

French unicorn Blablacar is said to have raised €21.3 million euros from Baring Vostok, a leading Russian private equity firm. The news was reported this morning by Maddyness, an authoritative French tech blog. When contacted by East-West Digital News, Baring Vostok and Blablacar declined to comment on this information, but Maddyness told us that they had access to official …

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SD Ventures invests in Latvian drone company, opens co-working space in Riga

March 2, 2017

This summer Social Discovery Ventures (SD Ventures), an international technology and investment group with Russian roots, invested an undisclosed amount in Latvian drone company AirDog. The group also is also creating a new co-working space in Riga, which is scheduled for launch in September. In an interview with EU-Startups, SD Ventures founder Dmitry Volkov, a Russian-American serial entrepreneur, explained his interest …

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Mikhail Fridman’s LetterOne confirms $50 million investment in “disruptive” US mobile service provider

September 5, 2016

Earlier this week LetterOne (L1), an international investment group controlled by Russian billionaire Mikhail Fridman, announced that it had received clearance from the US authorities for a $50 million capital injection in FreedomPop. Founded in 2012 and based in Los Angeles, California, FreedomPop offers wireless data, voice and text services. Presenting itself as “one of the fastest growing and most innovative mobile …

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Ozon not profitable yet, but expects fast growth and still considers Western IPO 

September 4, 2016

Ozon.ru, one of the most established Russian online retailers, — sometimes dubbed, with some exaggeration, ‘the Russian Amazon,’ — saw its sales grow by 20% year-on-year in the first seven months of 2016. The figure was disclosed by Danny Perekalsky, the site’s CEO, in exchanges with Rambler News Service (RNS) and East-West Digital News. “We’re satisfied with …

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From New York to Kiev: Russian ad tech company expands internationally

August 22, 2016

GetIntent, an international programmatic technology solution provider with Russian roots, is coming to Ukraine, Russian tech blog Firrma reported last week. The company will offer its solutions on the Ukrainian market via a local partner, Programmatic Media. GetIntent’s story illustrates the current go-global trend among Russian startups. Founded in 2013 by Russian mathematicians George Levin and …

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