International

Hoversurf wants to make Russia a global leader in air mobility

December 11, 2020

Russian businessman and philanthropist Ismail Akhmetov has invested in Hoversurf, a pioneer in autonomous flying vehicles. The amount of the deal was not disclosed, but company valuation was established at $30 million, the Russian media reported. Previous investors in the company include Qiwi co-founder Sergey Solonin, the Starta Ventures fund and several Russian individual investors. …

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After Poland, Slovakia and Ukraine, Russian e-commerce leader launches sales in Israel

December 14, 2020

Only few Russian online retailers sell outside their home market and neighbouring Russian-speaking countries. One of them is market leader Wildberries, which has just started sales in Israel. Local customers can order products through an English language online store, as well as through mobile apps on iOS and Android, reports industry news site e-pepper.ru. The …

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Ozon’s oversubscribed IPO brings in $1.2 billion

December 9, 2020

Today Ozon announced the completion of its IPO, which started triumphantly on Nov. 24. In total, 37,950,000 ordinary shares represented by American depositary shares (ADSs) were acquired by new investors, including those corresponding to purchase options exercised by underwriters.  Taking into account the private placements and other subscriptions from Ozon’s existing shareholders, Baring Vostok and Sistema, the company …

Ozon’s oversubscribed IPO brings in $1.2 billion Read More

Kaspersky Lab plans to supply mobile OS for enhanced protection

December 8, 2020

Smartphones with a Kaspersky-made operating system for enhanced security will appear next year, said Kaspersky Lab founder Eugene Kaspersky in an exchange with RIA Novosti.  His company partners with an unnamed Chinese smartphone maker. These smartphones with the Kaspersky operating system will have basic applications and its own browser. They are intended for specific types of use: …

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Online education platform gets huge funding boost from Mail.Ru, RDIF and Russia-China Investment Fund

December 8, 2020

Uchi Group, the publisher of Russia’s leading online education platform for school pupils, has agreed an investment of at least 3.75 billion rubles ($50 million at the current exchange rate) from Mail.Ru. The LSE-listed group will receive a 25% stake in exchange for this amount, while the RDIF, Russia’s sovereign wealth fund, and the Russia-China Investment …

Online education platform gets huge funding boost from Mail.Ru, RDIF and Russia-China Investment Fund Read More

Russia’s Cleverbots launches AI solution marketplace and secures $1 million from agroindustrial group

December 8, 2020

Cleverbots, a Russian integrator of AI-powered enterprise solutions, has raised $1 million from the agroindustrial group AST. No details of the transaction were disclosed.  The fresh funding will allow Cleverbots to hire new employees, support marketing and scale the business both domestically and abroad. AST’s existing offices in Switzerland and the United Arab Emirates, may be used as launchpads for …

Russia’s Cleverbots launches AI solution marketplace and secures $1 million from agroindustrial group Read More

Sber to launch international AI research institute in Russia

November 5, 2021

Last week Sber, Russia’s financial and tech giant (previously known as Sberbank) announced plans to open an international institute for artificial intelligence in Russia as early January 2021.  Sber’s head Herman Gref defined the main mission of the institute as “to provide an interdisciplinary approach to research” in the field of AI.   At the …

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Proposed EU ‘Data Governance Act’ will make data exchanges with Russia even more difficult, warn experts

December 2, 2020

As part of the European strategy for data, the European Commission proposes a set of measures to “foster the availability of data.” A part of them, published on November 25, focus on “increasing trust in data intermediaries and strengthening data-sharing mechanisms across the EU.”  These measures are aligned with the consumer protection requirements under the General Data Protection Regulation (GDPR) …

Proposed EU ‘Data Governance Act’ will make data exchanges with Russia even more difficult, warn experts Read More

This edtech startup grows by 500% y-o-y and raises millions from international investors

December 3, 2020

The Russian-born edtech startup Novakid has just completed a $4.25 million Series A round. The deal was led by Hungary-based PortfoLion and LearnStart, a major edtech-focused US fund, with participation from  TMT Investments and Xploration Capital. A previous $1.5 million funding round took place less than a year ago, involving South Korean VC BonAngels and Russian VC …

This edtech startup grows by 500% y-o-y and raises millions from international investors Read More

“A World Without Work:” First-ever AI-translated book published in Russia

December 2, 2020

Three months after The Guardian published an op-ed entirely written by AI, Yandex announces the “first-ever book translated by AI from English into Russian in less than a minute and published for a mainstream audience.” The book is that of Daniel Susskind, a famous English economist, on the coming era of artificial intelligence: A World Without Work: Technology, Automation, …

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Facebook pays $53,000 fine for breaching Russian personal data storage law

December 1, 2020

Facebook has paid a 4 million ruble ($53,000) fine, which was levied in February, for violating Russia’s personal data storage law. Proceedings against the company have been dropped, Russian state-run news agencies reported — without specifying whether or not Facebook now complies with the law. Over the past years the regulator Roskomnadzor requested Facebook and Twitter several …

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Victor Orlovski of Fort Ross Ventures: “The pandemic has brought a lot of opportunities for disruptive startups”

December 3, 2020

Launched seven years ago in Silicon Valley with support from Sberbank, Fort Ross has made its Russian roots an advantage in the eyes of US startups seeking global development opportunities. The venture firm now aims to enlarge its coverage to Europe, with two new funds announced in the past months. Its General Partner Victor Orlovski …

Victor Orlovski of Fort Ross Ventures: “The pandemic has brought a lot of opportunities for disruptive startups” Read More

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