International

Russian-founded Veeam Software secures $500 million from US and Canadian investors

January 16, 2019

Veeam Software, a global leader in cloud data management software, today announced it raised $500 million from Insight Venture Partners and Canada Pension Plan Investment Board (CPPIB). The fundings will be used “to accelerate the next phase of Veeam’s growth as the number one provider of data management solutions for the public and private cloud,” according to Veeam’s …

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2018 Eastern Europe and Central Asia Tech Investment Overview

January 22, 2019

Tech investment volumes in Eastern Europe and Central Asia were modest last year, if compared with the Chinese, US or Western European markets. However, 2018 was marked by giant corporate deals involving international players while a series of smaller venture transactions illustrated the diversity of the regional startup scene. In this review, which encompasses Russia, …

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MIT quietly untangles itself from blacklisted Russian billionaire

January 16, 2019

In 2013 the Massachusetts Institute of Technology (MIT) – one of the world’s most prestigious, and wealthiest, universities –  entered a $300 million collaboration to found the Skolkovo Institute of Science and Technology, or Skoltech, outside the Russian capital. MIT elected Vekselberg to its board of trustees in 2013, a move that appeared to cement a …

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Cryptocurrency exchanges eye Russia for expansion despite sanctions

January 14, 2019

Sanctions imposed by governments as part of geopolitical struggles do not always filter through to under-regulated industries. Ambitious businesses covet every opportunity for expansion and diversification. In addition, according to a recent report, interest toward cryptocurrencies has remained relatively stable in spite of the bitcoin’s fall. These seem to be among the reasons why a …

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US-based IT giant DXC to acquire Russian-founded Luxoft for $2 billion

January 12, 2019

Earlier this week DXC Technology and Luxoft, two major, NYSE-listed IT service providers, announced a definitive agreement for DXC to acquire Luxoft. At $59.00 per share in cash, the deal represents a total equity value of approximately $2 billion, according to the press release. Still subject to customary conditions and regulatory approvals, the transaction is expected to …

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US media report: Kaspersky helped catch an alleged NSA data thief

January 16, 2019

Kaspersky Lab has been under fire over the past few years in the USA over concerns that it could provide its clients’ private — and at times secret — information to the Russian government. It turns out, however, that the Russian cybersecurity firm might have helped the National Security Agency (NSA) identify and arrest in …

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Cinemood raises $4 million from Russian and Belarusian investors

October 22, 2020

The Internet Initiatives Development Fund (IIDF, or FRII in Russian, Russia’s leading startup fund) has teamed up with the Russian-Belarusian Investment Fund (RBF Ventures) to provide 263 million rubles (roughly $4 million) in fresh funding to Russian startup Multikubik. The news was reported in late December by business daily Kommersant based on an exchange with a Multikubik representative. Also participating …

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Russian VC firm FinSight puts $25 million in Indian startup fund

January 9, 2019

Last month FinSight Ventures, a Californian VC firm belonging to leading Russian financial group FINAM, announced an investment in Indian startup fund Emphasis Ventures (EMVC). The investment amounted to $25 million, reported Russky Venture, an influential Telegram channel. “The partnership enables FinSight to have access to leading startups in rapidly growing and evolving Indian market as …

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Yandex demonstrates self-driving car technologies on the streets of Las Vegas during CES 2019

February 16, 2019

Yandex, the Russian Internet giant that develops intelligent products and services powered by machine learning, is operating a self-driving car in Las Vegas with just a safety engineer in the front passenger seat (NVO Mode).  The company will be providing demonstration rides of its self-driving car on the public streets of Las Vegas starting from the Hard …

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EWDN research: Digital influencer market is taking off in Russia

February 6, 2019

East-West Digital News is preparing an international report on digital influencer marketing in Russia and the related opportunities for local and international brands. The first of its kind, this report is being prepared with participation from leading influencers, brands, marketers, agencies and marketplaces. It has received the support of Epicstars, a major an online platform for …

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Larix VC invests $1 million in Indian agri-marketing platform Ninjacart

December 28, 2018

Larix VC, a fund launched by Moscow-based businessmen Oskar Hartmann and Igor Rybakov, has invested $1 million in Indian startup Ninjacart. Launched in 2015, this B2B “agri-marketing platform” claims to serve currently  more than 3,000 vegetables and fruits farmers, connecting them to businesses. Ninjacart is the market leader in India, ahead of its competitors Crofarm, FarmTaaza and …

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Eurasian Economic Union considers launching digital currency in response to Western sanctions

December 28, 2018

The member states of the Eurasian Economic Union (EAEU) – Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia – are considering creating a digital currency in 2020 or 2021, the Russian deputy finance minister Alexei Moiseev stated last week. Such a move is “inevitable,” the TASS news agency quoted Moiseev as saying, because of increasing difficulties in trade and …

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