International

No exchange, no investment, no mining: Russia’s central bank proposes triple ban on crypto

January 27, 2022

Bank of Russia proposed today to ban cryptocurrency investment and mining as governments around the world crack down on the decentralized currencies, citing a variety of threats including monetary stability. At the moment, conducting transactions with cryptocurrencies is illegal in Russia, but investing and buying crypto through exchanges is permitted under a recent change. Russian citizens’ transactions using decentralized …

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From London, to Switzerland, to India, Russian entrepreneurs and investors push fintech innovation

February 11, 2022

Last week, as reported by Reuters, TCS Group — the owner of Russian digital banking giant Tinkoff — took control of Swiss crypto service company Aximetria as part of its international expansion strategy. Founded by Russian serial entrepreneur Alex Axelrod in 2018, this startup has developed a SaaS platform to provide “seamless interconnection for any form of money: fiat, crypto and …

From London, to Switzerland, to India, Russian entrepreneurs and investors push fintech innovation Read More

Russia takes down REvil hacking group at US request — FSB

January 17, 2022

Russia has dismantled ransomware crime group REvil at the request of the United States in an operation in which it detained and charged the group’s members, the FSB domestic intelligence service said on Friday. The United States welcomed the arrests, according to a senior admininstration official, adding “we understand that one of the individuals who was arrested today was …

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Russian tech entrepreneurship on the rise: Forbes identifies 10 “future unicorns”

February 3, 2022

Far from their native countries, Russian-speaking entrepreneurs are thriving in the world’s major tech hotspots — from Silicon Valley, to Western Europe, to South-East Asia. These entrepreneurs have colonized the world’s best accelerators, including such ones as Y Combinator, 500 Startups and Techstars. Russian-speaking entrepreneurs reportedly accounted for 40% of a recent Alchemist batch.  The …

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Russian startup Kodland raises $9 million to offer remote programming courses in eight new languages

January 11, 2022

Just a year after its previous round, Russian edtech startup Kodland secured $9 million in a Series A funding round.  As reported by TechCrunch, the round was led by Redseed, with participation from Baring Vostok, Kismet, Flyer One Ventures and Alexander Nevinsky, a partner at I2BF who took part in the December 2020 round. All these investors have roots in Russia, excepted Flyer One whose team …

Russian startup Kodland raises $9 million to offer remote programming courses in eight new languages Read More

Incepted in Russia 11 years ago, this visual collaboration software startup is now valued at $17.5 billion

January 17, 2022

Miro, a US enterprise software publisher with Russian roots, announced yesterday a $400 million Series C round. The deal brought the company — known as RealtimeBoard when it was founded in Russia back in 2011 — to an astounding  $17.5 billion post-money valuation. Several other unicorns founded or co-founded by Russian entrepreneurs emerged on the global tech scene over the past years — from Badoo, to Personio, to Veeam Software, …

Incepted in Russia 11 years ago, this visual collaboration software startup is now valued at $17.5 billion Read More

Russian IoT startup receives $5.4 million in state money to develop in Western markets

February 24, 2022

Mircod, a Russian “IoT-as-a-service” company, has just received  400 million rubles ($5.4 million) from state-owned development corporation VEB.RF via its affiliate fund VEB Ventures, reports business daily Kommersant.  Established in 2016 in Tatarstan, a tech friendly region of Russia, Mircod enables rapid prototyping of IoT products and solutions. It has developed a “centralized platform to automate the development of IoT …

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Russia to require Netflix to stream state television broadcasts

December 30, 2021

Roskomnadzor, the Russian Internet and telecom regulator, will require Netflix to offer state television channels to its Russian customers after it added the U.S.-based streaming service to its register of “audio-visual services” Tuesday. Roskomnadzor’s register, which was created in late 2020, applies to online streaming services with over 100,000 daily users and requires them to comply …

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Russia imposes record fines to Google, Meta for failing to remove banned content

December 28, 2021

On Friday last week, Russia slapped tech giants Google and Meta with penalties totaling over $125 million for repeated failure to remove banned content, the media reported. A Moscow magistrate’s court fined Google 7.2 billion rubles (around $98 million at the current exchange rate) under a legal clause that allows courts to impose between 5% and …

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Irene Shvakman, BNPL pioneer in Eastern Europe: “Clear regulation is needed to maintain online consumers’ trust in delayed payment offers”

March 27, 2024

As Buy Now Pay Later (BNPL) has become a popular way for consumers around the globe to settle their purchases, Russia’s Central Bank is seeking to regulate this activity. In this exchange with East-West Digital News,, industry pioneer Irene Shvakman – who co-founded Revo Technologies, Russia’s first BNPL service, even before today’s Western leaders appeared …

Irene Shvakman, BNPL pioneer in Eastern Europe: “Clear regulation is needed to maintain online consumers’ trust in delayed payment offers” Read More

Russia’s Melon Fashion Group launches sales on Amazon

January 3, 2022

One of Russia’s leading fashion retailers has launched international sales on Amazon, as companies from the region move to expand their online presence. St. Petersburg-based Melon Fashion Group will now offer apparel under its brand befree on the world’s largest e-commerce platform, according to a company release. Melon Fashion operates four brands, specialising mainly in …

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Moscow clinics bet on AI-powered medical diagnosis, Russian startup triumphs in South Korea

January 17, 2022

No less than two million preliminary diagnoses using a neural network were made to date in Moscow during medical home visits, city authorities announced last week. “Today, the latest digital tools are used in routine medical practice in all adult polyclinics relies – including a clinical decision support system (CDSS) allowing for AI-powered preliminary diagnoses,” according Moscow’s Department of Information Technologies (DIT). After the practitioner enters the patient’s …

Moscow clinics bet on AI-powered medical diagnosis, Russian startup triumphs in South Korea Read More

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