Startups

Russian startups mature, but need more tenacity, says Finnish Skolkovo executive

February 24, 2016

Russia’s high-tech startups are getting better by the year, but innovators need to be more persistent to commercialize their solutions, said Pekka Viljakainen, advisor to Skolkovo president Victor Vekselberg. The Finn made the remarks at the final stage of the 2015 edition of the Startup Tour, which has taken in 12 cities and ventured abroad …

Russian startups mature, but need more tenacity, says Finnish Skolkovo executive Read More

iTech Capital invests $2 million in Ukrainian-Russian mobile marketing startup Clickky

February 24, 2016

Moscow-based venture fund iTech Capital announced today it has invested $2 million in Clickky. Operating globally from its headquarters in Odessa, this Ukrainian-Russian startup has developed a comprehensive mobile app marketing platform with in-house proprietary technology for user acquisition, traffic monetization and performance analysis. The investment will support Clickky’s expansion into the United States, South-East Asia and other emerging markets, …

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Roman Abramovich invests $15 million in Israeli startup Music Messenger

February 25, 2016

As reported by Reuters, Russian billionaire Roman Abramovich has invested $15 million in Israeli startup Music Messenger, leading a $30 million round which also involved Benny Andersson from pop band ABBA, artists David Guetta, Will.i.am and Avicci, and Gee Roberson, manager of Nicki Minaj. Co-founded by Israeli entrepreneur O.D. Kobo and launched seven months ago, this Israeli …

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Moscow Seed Fund and Life.Sreda invest in microcredit scoring technology

February 25, 2016

Earlier this month Moscow Seed Fund, the venture arm of the Moscow city authorities, and Life.Sreda, a Russian fintech fund, announced they brought in 12 million rubles (approximately put $240,000 at the current exchange rate) in Scorista.ru. Launched in 2013, this Moscow-based startup provides microcredit companies with credit scoring and risk analysis “in a minute.” In addition …

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Russian startups look westward

February 25, 2016

Even though Russia’s internet-related businesses make up just 10 percent of the country’s GDP, more e-commerce and discovery commerce startups are looking at the U.S. market for ample investment and opportunities for growth. 2for1, a fledging Russian-Ukrainian startup is one such company that has tailored its project for the U.S. market.

New York startup “opens the world of fragrance” – with a touch of Russian love

April 27, 2015

Perfume lovers now have an easy and affordable way to access a supply of over 350 top designer fragrances, including Dolce & Gabbana, Versace, Hermes, Gucci and Marc Jacobs. By subscribing to Scentbird.com, they will receive a new fragrance each month “in a sleek and beautiful purse-sized spray,” the startup promises. Subscribers can choose their fragrance based on suggestions from Scentbird’s “TruScent Recommender,” which leverages a database …

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Russian online travel market still appealing to investors

February 25, 2016

Illustrating the appeal of the Russian online travel market — which is estimated at $3.8 billion last year — an industry conference and startup contest will take place on April 28 in Moscow. The event, christened Travel Up!, is organized by Qiwi Universe, the startup acceleration program of Russian payment giant Qiwi, in partnership with two …

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Fourth cohort of Volga tech projects trained in Maryland

February 25, 2016

A new group of Russian tech start-ups and university projects arrived in Maryland last week to participate in a two-week training program and meetings with potential investors and partners. This is yet another dimension to cooperation between Russia and the United States in technology innovation, an area which the Western sanctions against Russia do not …

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Russian startup develops 3D camera for the visually impaired

February 25, 2016

Russian startup Oriense is developing glasses that help blind and visually impaired people navigate around obstacles. The product, which was pitched to Samsung last year, is scheduled for release this year, reports the Skolkovo Foundation. The Orsens 3D Camera combines with GPS technology to analyze the environment and notify the user of obstacles with the help of …

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Skolkovo startup offers users faster access to web applications

February 25, 2016

Skolkovo’s IT cluster startup unveiled the solution of software publisher Startpack, whose new program Startpack Launcher offers desktop users faster access to web applications. A window that pops up on demand much like the Windows ‘Start’ button and displays shortcut icons to the user’s most frequently visited cloud-based apps such as Google, Yandex, Facebook, Wikipedia and …

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Internationally-oriented hardware startup accelerator launched in Nizhny Novgorod

February 25, 2016

Nizhny Novgorod-based investment company Open Innovations, the RVC Seed Fund and DI Group, a Tomsk-based high tech group, have set up a new “fund-accelerator” for hardware startups in Nizhny Novgorod – following a similar initiative earlier this year in Tomsk, Siberia. The fund is starting with 33.4 million rubles (approximately $585,000 at the current exchange rate) under management. The …

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Siberian startup launches auction-based hotel booking platform

April 2, 2015

A resident of the KRITBI innovation business incubator in Krasnoyarsk, in Siberia, has come up with a new IT project called “TourBazaar,” which enables users to book Russian hotels, tourist and recreation centers online. TourBazaar’s developers have demonstrated a fairly unorthodox approach to organizing a service in this highly competitive market segment. For example, TourBazaar collects …

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