Venture / Private equity

Russian startup raises $9.3 million to develop next-gen radial drilling technology

July 26, 2021

Perfobore (also spelt ‘Perfobur’), a Moscow based solution provider for wells completion and stimulation, has closed a $9.3 million Series B round. The funding came from  Runtech Ventures — the venture arm of Russian asset management firm RosRegion Razvitie — and from several individual investors including former Schlumberger VP Vladimir Kuksov.  Founded in 2013, Perfobore performed …

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Russian GetCourse secures $50 million from top investors, expects to generate $1 billion in GMV this year

July 26, 2021

Baring Vostok, the Russian PE/VC giant, Winter Capital, a Moscow-based international fund backed, in particular, by billionaire Vladimir Potanin, and Goldman Sachs have invested $50 million in GetCourse.  This Russian edtech startup allows its customers — more than 20,000 schools, trainers, coaches and bloggers — to create, deliver, promote and sell their own educational content.  The service, which …

Russian GetCourse secures $50 million from top investors, expects to generate $1 billion in GMV this year Read More

Baring Vostok invests $6 million in high-tech travel booking platform

July 22, 2021

Level.Travel, a Russian platform for searching and booking tours online, has raised $6 million from Moscow-based PE/VC giant Baring Vostok, in exchange for a minority stake. Previous investor Guard Capital, a Moscow-based VC, is keeping its stake in the company’s capital. No further details of the deal were disclosed. Founded ten years ago by Dmitry Malyutin, Ellin …

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The SPAC wave hits Russia

February 16, 2022

Could a company from Russia, or with strong connections to Russia, ever be targeted by a SPAC? The question remained open until very recently, given the small numbers of international IPOs from Russia — the latest example in the digital field being Ozon in November last year. Such a player has now emerged, with Nexters …

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Russian startup Welldone backed by domestic investors in burgeoning meat alternative market

July 19, 2021

Welldone, a Russian artificial meat startup founded last year, has secured $1.5 million from two local funds. These investors are Lever VC, the venture arm of agroindustrial major GrainRus, and Phystech Ventures, a fund launched by top Moscow science institute. Forbes Russia heard that Welldone’s valuation could be in the range of $5 million to $7 million.  …

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The Untitled raises €100 million to relocate tech startups from Eastern Europe to Western jurisdictions

December 31, 2021

The Untitled, a Russian venture firm established in 2013, has raised €100 million for a new, London-based vehicle (‘The Untitled Ventures’) that will target startups relocating from countries of the former Soviet Union. This is twice as much as the initial target (€50 million) announced by the firm last year. “Russia and neighboring countries feature world-class programmers and high quality startups,” The …

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Zerion secures $8.2 million to make decentralized finance accessible to all

July 14, 2021

Last week Zerion, a Californian decentralized finance (DeFi) startup with Russian and Ukrainian founders, announced the completion of a $8.2 million round. Led by Mosaic Ventures, the deal also involved Placeholder, DCG, Lightspeed, Blockchain.com Ventures and other organizations — as well as a dozen of individual investors from the crypto community.  Zerion touts its investing app as “the simplest way to track and manage …

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Russian maintenance service marketplace Wowworks raises $3.6 million to become a global major

July 13, 2021

Wowworks, a Moscow-based startup providing corporate clients with a variety of maintenance services, has raised $3.6 million from three VCs: AddVenture, one of the most established VC firms with Russian roots; DV Capital,  a recently-founded, Moscow-based VC firm; and LVL1, a vehicle of Russian-Israeli tech investor Lev Leviev.   Back in 2017, the startup already secured $1 million from …

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Dutch and Greek investors back Russian startup Agro.Club for international expansion

July 7, 2021

As reported by business daily Vedomosti, the Dutch fund Rabo Frontier Ventures and the Greek fund VentureFriends have been the main contributors to a $5 million of funding for Russian agritech startup Agro.Club. Neither the respective contributions of the investors nor the terms of the deals were disclosed.  Founded in 2018, Agro.Club is a digital marketplace that …

Dutch and Greek investors back Russian startup Agro.Club for international expansion Read More

Glorious story but modest exit for online fashion pioneer KupiVIP

July 9, 2021

Update July 9: Yandex announced the cancellation of the deal, for undisclosed reasons, according to media reports. The company is considering “other options to enter the fashion segment.” Yandex.Market is in the process of acquiring KupiVIP, one of the most established e-commerce brands in Russia, founded back in 2008 by German entrepreneur Oskar Hartmann. Also …

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Leta Capital eyes “17,000 Russian-speaking tech entrepreneurs” based in the West

June 30, 2021

The Russian VC firm Leta Capital aims to invest in Russian-speaking tech entrepreneurs across the world. This is a huge pool of talents who left their home countries — including Russia, Ukraine, Belarus and some other former Soviet republics — to establish themselves in Western Europe, the USA and other geographies.  According to Leta Capital’s in-house research, “more …

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Russian entrepreneurs raise $46 million to launch express delivery service in the US

June 30, 2021

A group of Russian entrepreneurs has raised $46 million to launch a food delivery company on the US market. Dubbed ‘Buyk,’ the service is an analog of Samokat, a successful startup which was born in St. Petersburg and acquired last year by Mail.ru Group and Sber. Buyk is the brainchild of Samokat co-founders Vyacheslav Bocharov …

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