Venture / Private equity

May 20-22: Meet top researchers, innovators and entrepreneurs in Nizhny Novgorod

Lobachevsky University, the largest university in the Nizhny Novgorod region, is announcing KomTech-2015, a sizable innovation-focused event to be held between May 20 and 22, 2015. The event aims to assist young innovators in the development of their entrepreneurial mindset, help them put together winning project promotion strategies, encourage transferable skills and activities, and foster …

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Retail analytics solution provider RetailNext secures giant funding round for global expansion

Earlier this month RetailNext, a global provider of retail analytics solutions with Russian connections, secured $125 million in growth funding. The company intends to use the new funding to strengthen its presence in North America, Europe and Asia, pursue relevant strategic acquisitions, and grow in new markets. With more than 160 retail customers and new store deployments …

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Wikimart co-founder and CEO Maxim Faldin: “Virtually all Russian legitimate e-commerce companies are unprofitable”

Launched in 2008 by Stanford graduates Maxim Faldin and Kamil Kurmakaev, Wikimart had the initial ambition of creating a Russian analog of eBay. Funded initially by major US investment funds, then by Russian investors, the startup has now become a major marketplace offering its own products alongside nearly 2 million items from over 1,000 merchants. In a recent …

Wikimart co-founder and CEO Maxim Faldin: “Virtually all Russian legitimate e-commerce companies are unprofitable” Read More

iTech Capital invests $2 million in Ukrainian-Russian mobile marketing startup Clickky

Moscow-based venture fund iTech Capital announced today it has invested $2 million in Clickky. Operating globally from its headquarters in Odessa, this Ukrainian-Russian startup has developed a comprehensive mobile app marketing platform with in-house proprietary technology for user acquisition, traffic monetization and performance analysis. The investment will support Clickky’s expansion into the United States, South-East Asia and other emerging markets, …

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Russia launches two major internationally-oriented tech funds

Two initiatives that confirm the Russian government’s commitment to support the country’s high-tech industries were announced this month. The first was the creation of a 5 billion ruble (approximately $100 million) tech fund by RVC, the state-owned fund of funds dedicated to innovation, in partnership with Da Vinci Capital Management, a major internationally-oriented Russian asset management company. Presented as …

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Roman Abramovich invests $15 million in Israeli startup Music Messenger

As reported by Reuters, Russian billionaire Roman Abramovich has invested $15 million in Israeli startup Music Messenger, leading a $30 million round which also involved Benny Andersson from pop band ABBA, artists David Guetta, Will.i.am and Avicci, and Gee Roberson, manager of Nicki Minaj. Co-founded by Israeli entrepreneur O.D. Kobo and launched seven months ago, this Israeli …

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Moscow Seed Fund and Life.Sreda invest in microcredit scoring technology

Earlier this month Moscow Seed Fund, the venture arm of the Moscow city authorities, and Life.Sreda, a Russian fintech fund, announced they brought in 12 million rubles (approximately put $240,000 at the current exchange rate) in Scorista.ru. Launched in 2013, this Moscow-based startup provides microcredit companies with credit scoring and risk analysis “in a minute.” In addition …

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In 2014, TMT Investments injected $4.3 million in 15 companies

Founded by Russian businessmen, LSE-listed fund TMT Investments stands as one of the most active Russian-backed funds operating internationally. The fund, which has raised some $30 million in total since its inception in 2010,  published today its results for the year ended 31 December 2014.

New York startup “opens the world of fragrance” – with a touch of Russian love

Perfume lovers now have an easy and affordable way to access a supply of over 350 top designer fragrances, including Dolce & Gabbana, Versace, Hermes, Gucci and Marc Jacobs. By subscribing to Scentbird.com, they will receive a new fragrance each month “in a sleek and beautiful purse-sized spray,” the startup promises. Subscribers can choose their fragrance based on suggestions from Scentbird’s “TruScent Recommender,” which leverages a database …

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Russian online travel market still appealing to investors

Illustrating the appeal of the Russian online travel market — which is estimated at $3.8 billion last year — an industry conference and startup contest will take place on April 28 in Moscow. The event, christened Travel Up!, is organized by Qiwi Universe, the startup acceleration program of Russian payment giant Qiwi, in partnership with two …

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Ulmart founder and CEO Sergey Fedorinov: “The context might change for the better before our potential IPO”

Starting from scratch in 2008, Ulmart took just five years to assert itself as the leading Russian e-commerce site, generating $1.3 billion in revenues last year in a domestic market that reached or exceeded $17 billion. In spite of the current economic downturn in Russia, Ulmart expects continued growth this year and considers a Western …

Ulmart founder and CEO Sergey Fedorinov: “The context might change for the better before our potential IPO” Read More

Internationally-oriented hardware startup accelerator launched in Nizhny Novgorod

Nizhny Novgorod-based investment company Open Innovations, the RVC Seed Fund and DI Group, a Tomsk-based high tech group, have set up a new “fund-accelerator” for hardware startups in Nizhny Novgorod – following a similar initiative earlier this year in Tomsk, Siberia. The fund is starting with 33.4 million rubles (approximately $585,000 at the current exchange rate) under management. The …

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