Foodtech

Russian agroindustrial major GrainRus invests in international foodtech fund

April 29, 2021

GrainRus, a Russian importer and producer of raw materials for the brewing and dairy industry, has become a limited partner (LP) of a Hong Kong and US-based foodtech fund.  Lever VC was launched in 2018 to invest in the alternative protein space. Its team includes early investors in Beyond Meat, Impossible Foods, Memphis Meats and other …

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Yandex acquires tip automation startup to offer full-cycle foodtech services

April 28, 2021

Tip automation startups are much-desired in Russia right now, if judging by an acquisition announced by Yandex, just weeks after another one from Alfa-Bank.  The NASDAQ-listed search giant is now the owner of Chaevye Prosto (‘Just Tips’) — a startup founded in 2018 by Evgeny Zagoruyko and his wife, who spent much of the family’s savings to develop the service.  The terms of the …

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Yandex launches food delivery robots

December 9, 2020

Russia’s Yandex has started using its self-driving robot to deliver fast food orders, the company announced Wednesday. The small six-wheeled autonomous robot — dubbed Yandex Rover — has started delivering orders from Yandex’s food delivery service, Yandex Eats, to customers in one of Moscow’s central business districts.  Just like a human courier, after an order …

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The alliance between Mail.ru Group and Sber is not stable, say media reports

November 22, 2020

According to media reports last week, the alliance of Sber (the state-controlled financial and technology giant previously known as Sberbank) and Mail.ru Group (an LSE-listed Russian Internet major) is not stabilized yet.  Financial Times reported the two companies are yet to align their strategic visions of the ecosystem they are building jointly. Sber sees its …

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Russia’s BioFoodLabs health food is flourishing in times of pandemic

November 17, 2020

Russians have been bingeing on health food in an effort to build up their immune systems in the hope of protecting themselves from the novel coronavirus. That’s how Elena Shifrina, former model, MIT alumnus and now CEO of Russia’s premier health food company BioFoodLabs explains the surge in sales this year. bne IntelliNews profiled Shifrina three years ago when …

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Mail.ru Group and Sberbank invest again in food delivery

November 12, 2020

Mail.ru Group and Sberbank are increasing their stake in food delivery service Local Kitchen (‘Kukhnya na rayone’) through their joint venture O2O. After the acquisition of a 30% share in May for nearly $3.9 million, O2O is to own 84.7% of the company after deal completion scheduled for Q4 2020. Some of Local Kitchen’ services are …

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Mail.Ru and Sberbank inject $160 million in their foodtech and mobility JV

November 12, 2020

Last week Mail.ru Group, the LSE-listed Russian Internet major, and Sberbank, the state-controlled financial and technology giant, announced a capital injection of 12 billion rubles (approximately $160 million) to develop their ‘O2O’ joint venture. Agreed in June last year, this JV combines the businesses of the two groups across a variety of fields, from ride-hailing …

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Mail.ru Group and Sberbank complete acquisition of food delivery service Samokat

November 12, 2020

Thursday last week Mail.ru Group and Sberbank announced that O2O, their ride-sharing and food delivery joint venture,  completed the acquisition of Russian food delivery startup Samokat. Following approval from corporate bodies and antimonopoly authority FAS, O2O now owns 75.6% of the service. The remaining shares (24.4%) are in the hands of Samokat’s founders and managers. The transaction …

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Mail.ru Group and Sberbank assert themselves on food delivery market

November 12, 2020

Mail.ru Group and Sberbank have invested in food delivery service Localkitchen.ru (“Kukhnya na rayone”) through their joint venture O2O. Citing Russia’s company register, business Vedomosti reported yesterday that O2O committed a loan of up to 290 million rubles (nearly $3.9 million at the current exchange rate) convertible into a 30% share. The news came just …

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How COVID-19 is shaking Russia’s online and offline retail

November 12, 2020

Russian retailers have been rocked for the past six weeks as epidemic fears were mounting among the population. Even before the shutdown of many offline outlets – which was ordered in Moscow city on March 31 – online demand surged across a host of products. Conservation-type food products became in strong demand in late February, with market leader Utkonos reporting a 60% sales spike in comparison with the same …

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Amid market boom, food delivery startup Elementaree raises $5 million from top Russian and French investors

November 12, 2020

The Russian food delivery startup Elementaree.ru has secured $5 million from the French vegetable giant Bonduelle and Russia’s sovereign wealth fund RDIF, confirming earlier announcements. An undisclosed individual investor also took part in the deal, the Russian media reported. The details of the transaction were not disclosed. Founded in 2013 by Olga Zinovieva and Silard …

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