Ilya Sachkov, the top cybersecurity businessman who was arrested under charges of “state treason” in late September, has claimed he is innocent and asked President Putin to be transferred from jail to house arrest during the investigation. Excerpts of his letter to Putin were shared with Forbes Russia by Sachkov’s lawyer Sergey Afanasyev. “I think this is a …
The ‘Fund for Technological Investments,’ a newly registered startup investment vehicle, made the news in Russia last week. This was due neither to any impressive investment capacity (just around 3 million rubles, or $40,000, per deal), nor to any special investment thesis. What is less common is the identity of one the instigators of this …
The pandemic has had an unprecedented impact on retail and delivery markets. In Russia, e-grocery was among the most impacted industries: the number of orders in this segment increased by 174% y-o-y in the first half of 2021, according to Data Insight. Fast delivery has become one of the main trends in the food sector …
How the pandemic has impacted retail, logistics and delivery in Russia Read More
Despite Russia adopting its first cryptocurrency law in January 2021, the country’s cryptocurrency market is still largely unregulated and is associated with a lot of uncertainty, according to a local industry advocate. Yury Pripachkin, head of the Russian Association of Cryptoindustry and Blockchain (RACIB), argued that the existing Russian crypto regulations are nothing more than “half-measures” that …
Russia does “absolutely nothing” to regulate cryptocurrencies, says industry advocate Read More
The impressive list of Russian entrepreneurs involved in multi billion dollar tech companies — from Pavel Durov (VK, Telegram), to Andrew Filev (Wrike), to Nikolay Storonsky (Revolut), to Ratmir Timashev (Veeam Software), and many more — is not coming to an end. 31-year-old Arseniy Vershinin, who was born in Ulan Ude, a small town in Siberia, is also one of them. A …
This techie from a small Siberian town co-owns a $6 billion German HR tech startup Read More
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 …
On Sept. 28 Russian authorities arrested Ilya Sachkov, the 35 year-old founder and CEO of a leading Russian cybersecurity company, under “state treason” charges. The news sent a chill through the IT and business community, as it followed recent cases involving prominent tech entrepreneurs and investors in Russia — from US private equity investor Michael …
Top Russian cybersecurity executive Ilya Sachkov arrested in state treason case Read More
The Russian venture market, which barely reached $700 million in 2020, could double this year, if judging by the performance of the first semester. Since it started to emerge in the nineties, this market experienced periods of growth, followed by crisis shocks which threw it down repeatedly. Alexey Solovyov, a figure of the Russian venture …
Based in Montpellier, France, Scaleo Medical is a developer and producer of medical equipment for hospital and home use. With a focus on oxygen therapy, respiratory orthopaedics and patient transfer tools, the company is now developing a brand-new concept around e-health devices. Cédric Etlicher, GM of Scaleo Medical in Russia, shared with FrenchTech his experience of doing business …
Cédric Etlicher of Scaleo Medical: “Doing business with Russians spices life up!” Read More
The man accused of killing a Russian meat magnate in his sauna with a crossbow has been caught after escaping from jail, investigators said Tuesday. Alexander Mavridi, who escaped from a pre-trial detention center in the Moscow region last month, was detained in the capital Tuesday after he was detected by the city’s facial-recognition surveillance cameras, the state-run TASS …
Escaped killer of Russian meat magnate caught via facial recognition Read More
American investor Michael Calvey has launched an appeal against his controversial conviction on embezzlement charges, the state-run RIA Novosti news agency reported Thursday. “The court has received an appeal by Michael Calvey’s defense lawyers,” a representative of Moscow’s Meshchansky district court told the news agency. The appeal is the latest twist of a legal saga that has …
US investor Calvey appeals Russian embezzlement conviction Read More
On Friday, Aug. 6, more than two and a half years after its beginning, a high-profile case emblematic of the rule of law in Russian business life came to a decisive development. American Michael Calvey, French Philippe Delpal and their Russian colleagues of the Baring Vostok managing team were found guilty by a Moscow court. …
