International

Banki.ru founders sell their stake to settle conflict with US investor

November 24, 2020

An investor consortium led by Russian private equity firms Elbrus Capital and Winter Capital (the latter has Russian billionaire Vladimir Potanin among its limited partners) has acquired 60% of Banki.ru, a leading bank and insurance marketplace. The investors are buying all the shares of company founders Philipp and Kirill Ilyin-Adaev and Elena Ishcheeva for an undisclosed amount. Russia Partners, an …

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Russian petrochemical major Sibur spearheads digital transformation

November 12, 2020

Russian petrochemical major Sibur told East-West Digital News it has developed a technology which allows high-precision modeling of physicochemical processes in petrochemical production. This technology is unique for Russia, says the company.  A pilot project was launched at Tomskneftekhim in Tomsk, Siberia, where a digital model of a high-pressure polyethylene reactor made it possible to significantly optimize …

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EU-backed climate conference to showcase 20 greentech startups (Dec. 1-3)

November 18, 2020

Green technologies and innovations from high potential startups are key contributors to the global effort on reaching ambitious climate targets. With this in mind, the EU Delegation to Russia wants to showcase EU and Russian startups that develop and promote green technologies and innovation. A pitching competition is being organised in the run-up to the EU-Russia Climate Conference, …

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Ozon files for NASDAQ IPO, aims to raise $500 million

November 6, 2020

Ozon, Russia’s leading multi-category e-commerce company, announced yesterday it has filed for an initial public offering (IPO) in the United States (see prospectus), one month after starting the registration procedure. The company intends to list its American depositary shares (ADS) on the NASDAQ. No pricing terms were disclosed, but Reuters reported that Ozon “could raise at least …

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Skolkovo launches Russia softlanding program for foreign startups

October 30, 2020

Skolkovo, Russia’s top international tech hub, is launching a softlanding program in digital format for foreign tech startup to explore the Russian market opportunity. The program will involve more than 30 companies from eight different countries. These include, in particular, Brazil, Iran, Hungary and Finland, says the Skolkovo Foundation.  The program “aims to introduce foreign startups to the opportunities in Russian …

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Russian home cinema startup secures $5 million factoring loan to pursue international development

October 23, 2020

Russian home cinema startup Multibutik — also known as Cinemood — has secured a $5 million loan from factoring company GameBoost42.  Now headquartered in San Francisco, this startup is one of Russia’s most hyped international startup success stories. It has developed mini cinema projectors for children, including a cloud-connected one that can project content onto any surface.  Cinemood …

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Russian university ranks global cities by innovation attractiveness

October 21, 2020

What prompts researchers, heads of corporations, startup founders, designers, architects, and artists to choose a particular city? Which megacities have an edge in the competition for the best minds? To answer these and other questions, an expert team from Moscow’s Higher School of Economics — a top Russian university — has developed the ‘HSE Global Innovation Index’ (HSE GCII). HSE …

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North Korean hacker group attacked Russian aerospace and defense targets

October 20, 2020

The North Korean hacker group “Kimsuky” is reportedly carrying out attacks against military and industrial entities inside Russia, cybersecurity experts told the newspaper Kommersant.  Earlier this year in the spring, Kimsuky hackers sent malicious emails seeking confidential information at aerospace and defense companies in Russia, says Anastasia Tikhonova, the head of the information security company “Group-IB.” …

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Sber and Visa launch data lab with AI supercomputer

October 16, 2020

Sber, the Russian state-controlled financial and tech giant, is teaming up with Visa to launch “Russia’s first Data Lab.” The partners intend to “use anonymized data to track changes in customer behavior and design the most customized offerings for all users of card products by applying artificial intelligence and machine learning tools.”  “The move is aimed at …

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Quarterly review: Battle of digital titans in Russia, Belarusian IT exodus, acquisitions in Ukraine

October 20, 2020

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia and neighboring countries in Eastern Europe. Since last year, EWDN chief editor Adrien Henni has offered a regular column to highlight the most notable industry facts and trends as well as promising tech innovations from these countries. Covering the third quarter of …

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Tinkoff scraps $5.5 billion deal with Yandex, shares plunge

October 20, 2020

The proposed megamerger between Russia’s leading technology company Yandex and fast-growing challenger bank Tinkoff has been scrapped. In an announcement to the London Stock Exchange — where Tinkoff’s holding company TCS is listed — the bank said negotiations between the two sides had been “terminated, effective immediately.” Yandex and Tinkoff previously announced they had reached an “agreement …

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