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Russian-founded startup raises $4.5 million to reinvent the Rubik’s Cube

October 21, 2021

WowCube, a startup founded by IT entrepreneur Ilya Osipov from Nizhny Novgorod, is reinventing the Rubik’s cube. Launched in 2017, the company touts itself as “the first-in-class innovative gaming platform where virtual gameplay is controlled by physically tilting, twisting, and shaking the device.” According to CrunchBase data, the company — now registered in Florida — …

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Adtech major Admitad buys two Russian startups, opens US office to “expand aggressively”

October 26, 2021

Admitad, an international affiliate network with Russian roots, announced two acquisitions this month, targeting Russian startups CheckScan and Pampadu.   The previous has developed a QR code scanner for receipts that allows customers to analyze their spending and compare prices across various outlets. CheckScan claims to  processes over 2 million receipts a day, serving “hundreds of thousands of consumers” across the …

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Now a top global crypto mining location, Russia considers introducing higher energy tariffs

October 19, 2021

Russia has become one of the world’s top three locations for bitcoin mining activity, following China’s crackdown on crypto earlier this year.  In August 2021, according to the Cambridge Bitcoin Electricity Consumption Index,  bitcoin miners in Russia accounted for 13.6% of the total global BTC mining hash rate distribution, bested by only the United States (26.2%) and Kazakhstan (21.9%). Energy consumption has grown …

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Moscow metro introduces “world’s first” pay-by-face system

October 15, 2021

The Moscow Metro on Friday rolled out what authorities have touted as the world’s first fare payment system based on facial recognition technology. The cashless, cardless and phone-less system, called ‘Face Pay,’ has been fitted at special turnstiles across the Russian capital’s more than 240 metro stations. “To enter the metro, passengers won’t need a …

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Russian and Ukrainian roots, US exit: Jelastic acquired by Virtuozzo

October 14, 2021

Last week Jelastic, a multi-cloud Platform-as-a-Service (PaaS) company established in Silicon Valley with Russian and Ukrainian roots, announced its acquisition by Seattle-based Virtuozzo. The terms of the deal were not disclosed.  Jelastic’s cloud services combine platform and container capacities in a single package for hosting providers, enterprises and developers. Virtuozzo is a leader in virtualization and hyperconverged software: its …

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Yandex acquires Wind’s Israeli e-scooter operations

October 15, 2021

Russian tech giant Yandex is expanding its mobility footprint in Israel with the acquisition of shared e-scooter company Wind’s Israeli operations. The two are not sharing the terms of the deal, but Israeli financial newspaper Globes reported that it is estimated to have cost $40 million to $50 million. Wind is one of the top e-scooter sharing …

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Mail.ru Group rebrands to ‘VK’

October 15, 2021

On Tuesday Mail.ru Group, the LSE-listed Russian Internet major, announced its rebranding to ‘VK,’ uniting most of its online activities around the abbreviated name of its social media flagship Vkontakte.  “While market analysts and professionals know us as Mail.ru Group, the connection between our projects was not always obvious to users,” explains the group, and …

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In 2021, Mail.Ru and Sber injected $600 million in their mobility and foodtech JV

October 13, 2021

Last week Mail.ru Group, the LSE-listed Russian Internet major, and Sber (ex-Sberbank), the state-controlled financial and technology giant, announced an injection of 12.2 billion rubles (around $170 million) into their O2O joint venture. The latest capital increase brought the total amount they put in the JV this year to 43 billion rubles (around $600 million at the …

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Russian car-sharing major Delimobil files for listing in New York

October 23, 2021

This past Friday Delimobil Holding S.A., a Luxembourg-registered, Moscow-based car-sharing company, filed for listing on the New York Stock Exchange. BofA Securities, Citigroup Global Markets and VTB Capital will act as joint lead book-running managers while Banco Santander, Renaissance Securities and Sberbank CIB will be joint bookrunners, the company said, cited by Reuters.  A pioneer …

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Sber aims to make elderly people digitally literate

October 7, 2021

Last week Sber, the state-controlled financial and digital giant, announced the launch of a Digital Skills School, aiming to teach elderly people to use digital services in everyday life. The financial and digital giant defines its initiative as “an educational and awareness-raising project,” touting its “simple language and accessible formats.” Users can learn how to buy medications …

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Two Russian tech moguls exposed by Pandora Papers

January 18, 2023

Earlier this week the International Consortium of Investigative Journalists (ICIJ) released the ‘Pandora Papers,’ a deep dive into “offshore havens and hidden riches of world leaders and billionaires.”  Millions of leaked documents unveil financial secrets of current and former world leaders, politicians and public officials in 91 countries and territories, alongside “a global lineup of fugitives, con artists …

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Yandex invests $30 million to launch cloud business in Germany

October 6, 2021

Yandex plans to launch a cloud business in Germany next year, the company said ahead of its annual Yandex.Scale cloud conference in late September. The NASDAQ-listed Russian digital major is making an initial investment of $30 million until the end of 2022. The money will be used to purchase equipment and rent data centers. Yandex …

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