Enterprise software

Online appointment platform YClients secures $10 million from major Russian investors

December 17, 2019

Elbrus Capital and Guard Capital have invested $10 million in YClients, a Russian online appointment and automation platform, in exchange for a minority stake. No further details about the deal were disclosed, but an industry insider told the business daily Kommersant that the company might have been valued in the range of $40 million.  Founded in 2015 …

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Rambler triggers criminal case against Nginx over IP rights, then steps back

December 18, 2019

Last week in Moscow an unexpected criminal case tarnished one of Russia’s best tech success stories – that of Nginx, the world’s most popular web server, which was sold to a US industry giant 15 years after being created by an obscure Russian system administrator.  On Thursday, December 12, law enforcement raided the company’s Moscow office. Armed …

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Notion Capital and Runa Capital team up to back French IT development tool provider

November 30, 2019

As reported last week, Runa Capital, an international VC firm with Russian roots, has teamed up with UK-based Notion capital to inject $7 million into Forest Admin. This French startup, founded in 2017, has designed an “off-the-shelf admin panel based on a highly-extensible API” in simpler words, an admin interface that helps manage customer data …

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Iconic Russian BIM projects and latest industry developments featured at Autodesk Conference (Oct. 2-3)

September 25, 2019

The annual Autodesk University Russia 2019 conference will take place on October 2-3 in Skolkovo, the international tech hub on the outskirts of Moscow. The event is dedicated to digitalization of construction and manufacturing using the most advanced technologies.  Iconic Russian projects in BIM will be featured as well as the technical, business and legal aspects …

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Huawei in talks to install Russian operating system on tablets for country’s population census

September 10, 2019

China’s Huawei has begun talks with Russia about installing Russian operating system (OS) Aurora on 360,000 of its tablets to conduct Russia’s population census next year, two sources told Reuters.  Huawei has been seeking alternative operating systems to Google’s Android OS after Washington put the world’s second-largest smartphone maker on a so-called Entity List that …

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How a Russian ice cream company generates hot profits with artificial intelligence

October 2, 2019

This summer, a major ice cream manufacturer in Russia, Chistaya Liniya (Pure Line), integrated a new solution for shelf image recognition. This AI-powered technology, developed by the Moscow-based startup Inspector Cloud, allows Chistaya Liniya to audit coolers, analyze product and staff data, and ultimately drive sales. For image recognition, ice creams are more of a …

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Russian software company Abbyy acquires US process intelligence solution provider TimelinePI

August 8, 2019

Abbyy, a Moscow-headquartered global provider of content intelligence solutions and services, has acquired US process intelligence solution provider TimelinePI. This acquisition is a “strategic investment” for Abbyy, which expects to “have the most comprehensive process intelligence platform [going] beyond traditional text analytics and process mining [and achieving] true digital intelligence and Digital IQ,” commented Ulf …

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Sberbank completes acquisition of Speech Technology Center to create “global leader” in biometrics

May 9, 2020

Sberbank, the state-controlled financial giant, has completed the acquisition of a 51% stake in Speech Technology Center (STC). Digital Horizon, a VC and business incubation firm with offices in Moscow and Tel Aviv, is also acquiring a minority stake in STC.  Gazprombank, which has sold a part of its shares, remain a strategic shareholder in …

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TCS Group launches B2B voice recognition services

July 26, 2019

Leading Russian consumer lender TCS Group that operates Russia’s only pure online bank Tinkoff Bank has launched B2B speech recognition services, Kommersant daily reported on July 22 citing representatives of the company. TCS will allow third parties to develop their own voice recognition applications such as voice assistants and robots for call centres using the Tinkoff VoiceKit. Tinkoff Bank’s …

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Almaz Capital and Runa Capital exit from US cloud ERP Acumatica

June 20, 2019

Almaz Capital and Runa Capital, two international VCs with roots in Eastern Europe, exited from Acumatica. This US-based provider of cloud-based ERP software systems has been fully acquired by a leading PE firm EQT. The terms of the deal have not been disclosed. Almaz was the first investor in the company as early as 2009; Runa joined …

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Mail.ru Group’s virtual disk client goes global

June 14, 2019

Mail.ru Group, the LSE-listed Russian Internet giant, is launching its Disk-O virtual disk client on the international market. A source in the group told Kommersant, a major business daily, that the company expects to attract one million users in the first year of international operations. Targeted countries include China, France, Germany, India, Spain, Turkey, the UK …

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Huawei acquires Russian face recognition technology

June 10, 2019

Chinese electronics manufacturer Huawei has acquired the face recognition technology of Russian startup Vocord, with patents and equipment and hiring most of the related team, as reported by business daily Vedomosti. According to the official company register, the deal took place on May 17 when Huawei subsidiaries fully acquired Moscow-based Eagle Softlab. Earlier this year, Eagle Softlab, …

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