Startups

EBRD provides rescue financing to Travelata and other Russian portfolio companies

April 10, 2020

The European Bank of Reconstruction and Development (EBRD) has provided finances to a Russian company for the first time in more than five years under its emergency coronavirus support fund. The EBRD stopped making active investments in the country in 2014, following Western sanctions stemming from the events in Ukraine and Crimea. The group has also wound …

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Mail.Ru and Sberbank to acquire food delivery service Samokat

April 7, 2020

Last week, just days after Elementaree.ru secured a $5 million round of funding, Mail.ru Group and Sberbank announced plans to acquire another Russian food delivery startup called Samokat. The tech group and the financial giant – which are both listed on Western exchanges – are committed to acquire 75.6% of the service, according to corporate statements cited …

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Russian startup to receive up to $10 million to bring data science to farmers

November 11, 2020

Russian agritech startup IntTerra has agreed with local businessman Nikita Shashkin an investment plan of “up to $10 million” in several capital injections. The deal, agreed in early 2020, has just been revealed by the business daily Vedomosti, which cites exchanges with company founders Vitaly Buzu and Alexander Mikhailov.  Very few Russian agritech startups have …

Russian startup to receive up to $10 million to bring data science to farmers Read More

International hackathon aims to fight pandemic and build more resilient societies (April 9-20)

April 3, 2020

As three billion people are locked down across the world, an international hackathon is calling innovators to “hack the future so we never go through this again.” Designed as an emergency response to the COVID-19 pandemic, Global Hack also aims to “build resilience post-pandemic.” The tracks are inspired by the UN sustainability goals that cover …

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Amid market boom, food delivery startup Elementaree raises $5 million from top Russian and French investors

November 12, 2020

The Russian food delivery startup Elementaree.ru has secured $5 million from the French vegetable giant Bonduelle and Russia’s sovereign wealth fund RDIF, confirming earlier announcements. An undisclosed individual investor also took part in the deal, the Russian media reported. The details of the transaction were not disclosed. Founded in 2013 by Olga Zinovieva and Silard …

Amid market boom, food delivery startup Elementaree raises $5 million from top Russian and French investors Read More

Major Russian retailers team up to scout startups globally

February 29, 2020

Four major Russian retailers – Beeline, Hoff, M.Video-Eldorado Group and X5 Retail Group – are teaming up to launch the Retail Innovation Tech Alliance (RITA), a startup scouting initiative in Russia and abroad.  RITA will be seeking innovative solutions in a variety of fields, including e-commerce, transport and logistics, consumer experience, quality of goods, point-of-sale …

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From Finland to Japan, Russian startup makes robotics easier to teach in schools

November 12, 2020

School teachers from the Karelia region (Finland) and the St. Petersburg region (Russia) will soon be able to integrate Industry 4.0 topics – from robotics, to 3D printing, to Internet-of-Things, to programming – to their programs.  This program is a joint effort of Lappeenranta and Lahti University of Technology (LUT University), St. Petersburg Polytechnic University (SPbPU), the Lappeenranta city administration, with …

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Eastern European edtech startup backed by Russian and South Korean investors to go global

February 19, 2020

In late January the Russian-born edtech startup Novakid closed a $1.5 million funding round involving South Korean VC BonAngels and Russian VC firm Leta Capital. The money will be used to develop Novakid’s technology further and to support its international expansion plans.  Founded in 2017 by Max Azarov, Novakid touts itself as “a next-generation early English learning …

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Three Russian online delivery startups shut down amid strong market growth

November 12, 2020

Over the past few weeks three online delivery startups ceased activities, having failed to turn a profit or demonstrate viable business models. The e-grocery delivery service Golama made the news last year as it completed a $2.3 million round of funding, then agreed with VEB Ventures an additional $7 million capital injection.   In mid-January 2020, however, …

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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 …

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

Russian designer invests in US startup to reinvent online travel booking

December 11, 2019

Last month EightyDays, a US startup born in Belarus, secured an undisclosed amount in a seed round of funding from Artem Lebedev. The famous Russian designer saw in this startup’s technology “an incredible, fantastic, extraordinary new way of making travel bookings online” (see video). EightyDays has created a multi-destination booking service intended for international travellers planning a …

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Ukrainian fund puts $1 million in Russian-founded edtech startup

December 4, 2019

A Kyiv (Kiev)-based venture fund, Genesis Investments , has just injected $1 million in Russian-founded edtech startup IntellectoKids.  The news was reported earlier this week by Rusbase, which cited exchanges with the startup’s press service. The details of the transaction were not disclosed.  Founded in 2016, IntellectoKids presents itself as a media, entertainment and education platform for parents and …

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