International

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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Russian-Singaporean startup helps shop owners manage POS screens with just a smartphone

June 25, 2021

Liqvid, a Russian startup registered in Singapore, has launched an online service for small business outlets to manage content on POS screens. “In just a few clicks,” shop owners can easily set up broadcasting, download content in any format, create promotional materials — from offers of the day to discounts, — display this content to …

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StartupBlink: Moscow city ranks #2 in Europe for startup ecosystem development

June 24, 2021

StartupBlink has just released the 2021 edition of its Startup Ecosystem Rankings Report, which encompasses 1,000 cities and 100 countries across the world.  Unsurprisingly, the US leads the country ranking, far ahead of any other country. Then come the UK, Israel, Canada, Germany and Sweden — immediately followed by China. Ranked 7th, China has blazed its way …

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Crypto cyberthreats spike this year with Russia hit the hardest, report reveals

June 28, 2021

Threats related to cryptocurrencies have increased alongside rising crypto prices over the past few months, shows a recent report by ESET. The Russian Federation is the country that has suffered the most from cyber threats related to cryptocurrencies this year, accounting for 8.9% of all attacks. G7 leaders recently called on the government in Moscow to identify …

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Sber acquires CRM startup Jivo for reportedly more than $20 million

June 22, 2021

Earlier this month Sber, the state-controlled financial and technology giant (previously known as Sberbank), announced the full acquisition of Jivo. This Russian startup — which has legal entities both in Russia and in Delaware — has developed an omnichannel application for customer support and online sales. Jivo’s solution combines a chat function for websites with …

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Why Russian programmers are among the best in the world

June 18, 2021

Students from Russia regularly win international informatics olympiads. Many Russian programmers work for IT companies all over the world, creating popular software, online games and mobile apps.  Examples of the world’s most popular Russian-made programs are uncomplicated video game Tetris, designed by Soviet programmer Alexey Pajitnov, with more than 500 million downloads in 2020; Pavel Durov’s messaging service Telegram, used …

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Otto Group’s myToys shuts downs in Russia after 10 years of activity

June 28, 2021

myToys, an online retailer of children’s goods owned by Otto Group, ceased its activity earlier this month in Russia after more than 10 years of operations on the market.  In recent years, myToys.ru was among Russia’s leading e-commerce sites in its category.  However, according to official data cited by Retailer.ru, the site’s net loss jumped from 34.8 million rubles in 2019 (around …

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BestDoctor.ru attracts $26 million from major Russian, Austrian and Swedish investors

June 17, 2021

In late May Russian insuretech leader BestDoctor closed a $26 million round with an impressive investor consortium. The money was brought in by Winter Capital, a Moscow-based international fund backed, in particular, by billionaire Vladimir Potanin; UNIQA Ventures, which is affiliated to a major Austrian insurance group owned by Raiffeisenbank; and VNV Global, a major …

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High tech reverberations from the St. Petersburg International Economic Forum

June 19, 2021

A notable part of this year’s St. Petersburg International Economic Forum (SPIEF) was dedicated to IT and digital transformation as well as the state’s role in these fields (see the forum’s topical sessions and its special Innovation Space). This major event took place on June 3-4, gathering much of the country’s political and business elite and some foreign …

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Auchan plans to spend more than $277 million on developing digital service in Russia

June 16, 2021

French retailer Auchan plans to spend more than 20 billion roubles ($277 million) on developing digital services in Russia by 2024 to boost online sales, the company’s country head said. Auchan has faced increased competition from fast-expanding Russian retailers and online delivery firms, including Magnit (MGNT.MM) and Lenta .  Auchan, which started to expand its online delivery …

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Russian travel segment is recovering fast from the pandemic

August 10, 2021

According to Aviasales.ru, Russian travellers booked 15% more tickets through its air ticket online booking platform for this May holiday season than in the same period of pre-covid year 2019.  The company also notes that 95% of the tickets were sold for domestic routes vs. 75% before the pandemic. The most popular international destinations this year were Turkey, …

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