Venture / Private equity

This Siberian-born unicorn is now among the world’s top ride-hailing apps

September 23, 2021

A new unicorn emerged discretely earlier this year in the globalized Russian-speaking startup entrepreneur community. InDriver, a ride-hailing app founded in Yakutsk, Siberia, back in 2012, was valued at $1.23 billion as it raised $150 million this past February from leading North American funds. The deal remained undisclosed until last week, when InDriver’s founder Arsen …

This Siberian-born unicorn is now among the world’s top ride-hailing apps Read More

New Russian fund intends to invest $100 million in AI/ML projects across Europe and Israel

September 14, 2021

The Russian investment club Promising Projects and the AI Cluster of the Novosibirsk Akademgorodok have teamed up to launch a $100 million fund focusing on AI, ML, data mathematics and cybersecurity. Dubbed ‘AI 1 Ventures’ and incorporated in Luxembourg, the new fund targets such areas as Eastern and Western Europe, including the Baltic states, as well as Israel. Tickets from $250,000 to $5 …

New Russian fund intends to invest $100 million in AI/ML projects across Europe and Israel Read More

GetVision’s new fund targets startups from Central and Eastern Europe

September 7, 2021

GetVision, a private investment boutique with offices in Moscow and London, is launching a 1 billion ruble ($13.6 million) tech fund for startups with roots in Central and Eastern Europe. As reported by Rusven, this pre-seed and seed fund will focus on such sectors as fintech, e-commerce, B2B software, and artificial intelligence.   Under plans, the …

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Delivery service Dostavista raises $35 million from top investors, rebrands to ‘Borzo’

February 18, 2022

Dostavista, now rebranded to Borzo, has completed an impressive Series C round, raising $35 million from a bevy of major international investors. This urban delivery service with Russian roots has been backed by the RDIF, Russia’s sovereign wealth fund (which made an early announcement about the deal in June); Mubadala, its Emirati peer; VNV Global, a major …

Delivery service Dostavista raises $35 million from top investors, rebrands to ‘Borzo’ Read More

A SPAC with Russian flavors: Nexters and Kismet complete merger

September 24, 2021

Nexters, one of the most successful Russian-founded game development companies, is going public today through a merger with special-purpose acquisition company (SPAC) Kismet. The company is traded on the NASDAQ under the new ticker symbols “GDEV” (ordinary shares) and “GDEVW” (warrants). The Kismet SPAC which just merged with Nexters closed its $250 million NASDAQ IPO in …

A SPAC with Russian flavors: Nexters and Kismet complete merger Read More

MegaFon exits AliExpress Russia, Mail.Ru injects $60 million to support company expansion

August 20, 2021

AfterOzon, Sber, Yandex and Auchan, a new big capital injection was announced earlier this week in the Russia e-commerce space. AliExpress Russia, the cross-border e-commerce leader and a major player on the domestic market, will receive $60 million from Mail.ru Group, one of its shareholders. The fresh funding will support AliExpress Russia’s “ongoing active expansion …

MegaFon exits AliExpress Russia, Mail.Ru injects $60 million to support company expansion Read More

Aviasales.ru secures $43 million from Elbrus Capital and iTech Capital funds

August 21, 2021

Aviasales.ru, a leading search engine for flights and hotel bookings, has attracted $43 million from Elbrus Capital and iTech Capital, two PE/VC firms with Russian roots. The latter had already invested $10 million in the company seven years ago, in 2014. The latest capital injection — which is sizable by Russian standards — will help the company launch new …

Aviasales.ru secures $43 million from Elbrus Capital and iTech Capital funds Read More

Russian court finds Baring Vostok’s top managers guilty of embezzlement, Calvey and Delpal receive suspended sentences

August 15, 2021

On Friday, Aug. 6, more than two and a half years after its beginning, a high-profile case emblematic of the rule of law in Russian business life came to a decisive development. American Michael Calvey, French Philippe Delpal and their Russian colleagues of the Baring Vostok managing team were found guilty by a Moscow court. …

Russian court finds Baring Vostok’s top managers guilty of embezzlement, Calvey and Delpal receive suspended sentences Read More

Eastern Europe quarterly review : SPACs with Russian flavors, new VC darlings, food delivery disruption

August 11, 2021

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia, Ukraine, and Belarus, with a column by EWDN Chief Editor Adrien Henni highlights the most notable industry facts and trends across the region. The second quarter of this year was marked, in particular, by the emergence of SPACs …

Eastern Europe quarterly review : SPACs with Russian flavors, new VC darlings, food delivery disruption Read More

Women’s e-learning platform from Russia raises $3.3 million to go global

August 6, 2021

Academy of Changes (Академия перемен), a Russian edtech platform intended for women, has closed a 242 million ruble ($3.3 million) round of funding, some 18 months after inception early last year. The funding was provided by TMT Investments, a London-based fund with Russian connections, and by the corporate fund of MTS, the Russian mobile major …

Women’s e-learning platform from Russia raises $3.3 million to go global Read More

Russian-founded mobile game publisher launches co-investment vehicle, displays IPO goals

August 4, 2021

Earlier this month Green Grey, a Russian-founded publisher of mobile games and apps, announced the launch of NPU Games. This new casual games studio offers co-investment opportunities to back the development of casual games.  An initial capital injection of $800,000 was brought by Green Grey itself to develop a pilot project, Cook’s Voyage — a casual …

Russian-founded mobile game publisher launches co-investment vehicle, displays IPO goals Read More

Russian mobile major MTS acquires blockchain trade finance platform

August 3, 2021

MTS, a leading mobile operator and provider of digital services and content, has acquired a 51% stake in blockchain-based trade finance platform Factorin.  The two year-old company touts itself as “the biggest factoring platform in Russia andone of the leading B2B blockchain systems for trade finance in the world.”  Founded by Andrei Maklin with support from venture builder Digital Horizon — …

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