Softline, a Moscow-based international software licensor and IT service provider, has acquired a minority stake in its Norwegian IT counterpart Crayon, the company announced earlier this month. Although the amount of the deal has not been disclosed, Russian business daily Vedomosti reports that Softline may have put around $12 million on the table to acquire …
Russia’s Softline acquires stake in Norwegian Crayon Read More
The Internet Initiatives Development Fund (IIDF, or FRII in Russian), Russia’s biggest fund for early-stage startups, has announced the results of its operations since inception. The fund launched in mid-2013 as an instrument to support the emergence of a strong startup industry in Russia. It initially received the equivalent of $200 million – a huge …
IIDF, Russia’s largest startup fund, celebrates 5 years of operations Read More
From May 29 to June 1, thousands of tech entrepreneurs, inventors, scientists, corporates and investors from some 80 countries gathered in Startup Village, a annual giant two-day event. This open-air conference and exhibition took place in Skolkovo, the international tech hub nearing completion on the outskirts of Moscow. Skolkovo’s two-day open-air Startup Village is the biggest event …
After investing $17 million in Telegram’s ICO private presale this past winter, Sergey Solonin, a co-founder of payment operator Qiwi, has committed to invest 220 million rubles (roughly $3.5 million at the current exchange rate) in Skolkovo Digital, the IT fund managed by Skolkovo Ventures, Skolkovo announced on June 1. Skolkovo Digital primarily targets startups in the …
Skolkovo Ventures attracts over $8 million from QIWI co-founder and Russian Helicopters Read More
Turkcell Group, an leading global digital operator, and Mail.Ru Group, a top Russian Internet company announced today a “strategic partnership” to “provide global digital services.” The partners have “begun to evaluate cooperation” on social media and e-mail solutions. “Our e-mail solutions can enhance Turkcell’s eco-system of digital services. We also think that our social networks …
Sistema VC, the venture arm of the Russian conglomerate Sistema, has taken part in a $26.4 million Series B round for SQream, a New York-headquartered startup offering a GPU database “for fast, scalable SQL analytics.” Announced on May 30, the round was led by Alibaba Group with participation from existing and new investors including Hanaco …
Sistema VC teams up with Alibaba Group to invest in US-based Big Data startup Read More
Skolkovo, the international tech hub under completion on the outskirts of Moscow, signed a memorandum of understanding with Bhaum Telecom Ventures Private Limited, a daughter structure of India’s Kanoria Foundation, at the St. Petersburg International Economic Forum (SPIEF) last week. The MoU, signed by Skolkovo Foundation’s chairman of the board Igor Drozdov and Bhaum Telecom …
Skolkovo signs agreement with Indian telecom venture fund at SPIEF Read More
The US Department of Commerce (USDOC) International Trade Administration established the SABIT program in 1990 to promote the economic restructuring of countries from the former Soviet Union. There are several group programs within this initiative including Health Care and IT. The SABIT IT tech startup program recently chose 18 participants for its June 2018 executive …
USDOC SABIT IT 2018 program picks tech startups from former Soviet Union Read More
Sistema VC, the venture arm of the Russian conglomerate Sistema, led a $2.5 million pre-A round for TraceAir, a US-Russian startup which develops construction automation solutions, the fund announced last week. Other participants in the round include US companies Engeo, a provider of geotechnical and environmental services, and Independent Construction Co., which owns “one of the …
Sistema VC leads $2.5 million round for US-Russian startup TraceAir Read More
On May 31 – June 1, Skolkovo, the international tech hub under completion on the outskirts of Moscow, will play host to the sixth edition of Startup Village. Presented as the largest startup conference in Russia and neighboring countries, the event expects to bring together some 20,000 participants from 80 countries. The conference will be a …
20,000 participants from 80 countries expected at Russia’s Startup Village Read More
The Far East Development Fund, which is full owned by state development bank Vnesheconombank (VEB), has partnered with Singapore-based Diamundi to launch of a new cryptocurrency, the ‘D1 Coin,’ backed by Siberian diamonds. Diamonds are a traditionally illiquid asset class, but their tokenization means that anyone will be able to buy, own and sell a fractional …
Russian state-backed fund wants to tokenize Siberian diamonds, gold and gas Read More
Last week Yandex.Taxi, the taxi service of Russia’s tech giant Yandex – which merged with Uber’s delivery businesses in Russia and neighboring countries earlier this year – announced its launch in Tallinn, Estonia. “Estonia became the 10th country, and the second country in the EU, where we launched activities,” Yandex.Taxi press office representative Natalia Zhuravlova …
From the Baltics to Mexico, Russian taxi-hailing services go global Read More
