Startups

Delivery service Dostavista raises $35 million from top investors, rebrands to ‘Borzo’

February 18, 2022

Dostavista, now rebranded to Borzo, has completed an impressive Series C round, raising $35 million from a bevy of major international investors. This urban delivery service with Russian roots has been backed by the RDIF, Russia’s sovereign wealth fund (which made an early announcement about the deal in June); Mubadala, its Emirati peer; VNV Global, a major …

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St. Petersburg startup makes handbags, fashion accessories and items of home decor from 99% repurposed plastic

August 19, 2021

Three enthusiasts and an old garage is all it took to make a plastic-processing machine and then launch 99recycle, a brand that is now renowned across St. Petersburg for its handbags, fashion accessories and items of home decor made from processed plastic and textiles. The story of how it happened told by the brand’s co-founder Anton Rykachevsky …

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Aviasales.ru secures $43 million from Elbrus Capital and iTech Capital funds

August 21, 2021

Aviasales.ru, a leading search engine for flights and hotel bookings, has attracted $43 million from Elbrus Capital and iTech Capital, two PE/VC firms with Russian roots. The latter had already invested $10 million in the company seven years ago, in 2014. The latest capital injection — which is sizable by Russian standards — will help the company launch new …

Aviasales.ru secures $43 million from Elbrus Capital and iTech Capital funds Read More

Eastern Europe quarterly review : SPACs with Russian flavors, new VC darlings, food delivery disruption

August 11, 2021

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia, Ukraine, and Belarus, with a column by EWDN Chief Editor Adrien Henni highlights the most notable industry facts and trends across the region. The second quarter of this year was marked, in particular, by the emergence of SPACs …

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Women’s e-learning platform from Russia raises $3.3 million to go global

August 6, 2021

Academy of Changes (Академия перемен), a Russian edtech platform intended for women, has closed a 242 million ruble ($3.3 million) round of funding, some 18 months after inception early last year. The funding was provided by TMT Investments, a London-based fund with Russian connections, and by the corporate fund of MTS, the Russian mobile major …

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Russian Cognitive Pilot aims to sell agricultural drones in challenging American markets

August 5, 2021

The Russian company Cognitive Pilot intends to sell its agricultural drones across North and South America, including the US market. To this end, it has registered a subsidiary, ‘Cognitive Pilot Corp.,’ in Texas, reports Vedomosti.  Cognitive Pilot CEO Olga Uskova said the flying engines will initially be sold in Kansas, Ohio, Oklahoma and Texas, where no license is required …

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Russian mobile major MTS acquires blockchain trade finance platform

August 3, 2021

MTS, a leading mobile operator and provider of digital services and content, has acquired a 51% stake in blockchain-based trade finance platform Factorin.  The two year-old company touts itself as “the biggest factoring platform in Russia andone of the leading B2B blockchain systems for trade finance in the world.”  Founded by Andrei Maklin with support from venture builder Digital Horizon — …

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Russian startup raises $9.3 million to develop next-gen radial drilling technology

July 26, 2021

Perfobore (also spelt ‘Perfobur’), a Moscow based solution provider for wells completion and stimulation, has closed a $9.3 million Series B round. The funding came from  Runtech Ventures — the venture arm of Russian asset management firm RosRegion Razvitie — and from several individual investors including former Schlumberger VP Vladimir Kuksov.  Founded in 2013, Perfobore performed …

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Russian GetCourse secures $50 million from top investors, expects to generate $1 billion in GMV this year

July 26, 2021

Baring Vostok, the Russian PE/VC giant, Winter Capital, a Moscow-based international fund backed, in particular, by billionaire Vladimir Potanin, and Goldman Sachs have invested $50 million in GetCourse.  This Russian edtech startup allows its customers — more than 20,000 schools, trainers, coaches and bloggers — to create, deliver, promote and sell their own educational content.  The service, which …

Russian GetCourse secures $50 million from top investors, expects to generate $1 billion in GMV this year Read More

Baring Vostok invests $6 million in high-tech travel booking platform

July 22, 2021

Level.Travel, a Russian platform for searching and booking tours online, has raised $6 million from Moscow-based PE/VC giant Baring Vostok, in exchange for a minority stake. Previous investor Guard Capital, a Moscow-based VC, is keeping its stake in the company’s capital. No further details of the deal were disclosed. Founded ten years ago by Dmitry Malyutin, Ellin …

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Russian startup Welldone backed by domestic investors in burgeoning meat alternative market

July 19, 2021

Welldone, a Russian artificial meat startup founded last year, has secured $1.5 million from two local funds. These investors are Lever VC, the venture arm of agroindustrial major GrainRus, and Phystech Ventures, a fund launched by top Moscow science institute. Forbes Russia heard that Welldone’s valuation could be in the range of $5 million to $7 million.  …

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Zerion secures $8.2 million to make decentralized finance accessible to all

July 14, 2021

Last week Zerion, a Californian decentralized finance (DeFi) startup with Russian and Ukrainian founders, announced the completion of a $8.2 million round. Led by Mosaic Ventures, the deal also involved Placeholder, DCG, Lightspeed, Blockchain.com Ventures and other organizations — as well as a dozen of individual investors from the crypto community.  Zerion touts its investing app as “the simplest way to track and manage …

Zerion secures $8.2 million to make decentralized finance accessible to all Read More

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