Startups

Online event solution startup TimePad secures investment from Target Ventures

August 13, 2014 August 13, 2014

Earlier this month TimePad, a Moscow startup that offers e-ticketing services and other online tools for event organizers, secured an investment from Target Ventures. Since the acquisition of an initial stake earlier this year, the fund has injected $1 million in total into the startup. Founded in 2008 with the help of HSE Inc., the …

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Yandex Money launches new service for creating online stores

August 11, 2014 August 11, 2014

Yandex Money and Simtech have launched Merchium, a cloud service which will enable anyone to create their own online store. The service, which uses the e-commerce software CS-Cart, will provide users with all the necessary features of any online store, such as a catalogue and shopping basket. The companies have stated that the creation and hosting …

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Run Capital invests $600,000 in excursion booking service WeAtlas

August 7, 2014 August 7, 2014

Run Capital, a $30 million fund launched this past spring by Qiwi executives, has announced its first investment in online excursion booking service WeAtlas. The $600,000 capital injection will be used for technological development and broadening the company’s network of partners. WeAtlas helps users to search for and book tour guides and excursions in various world cities. …

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TMT Investments injects $250,000 in US fashion rental platform Le Tote

August 4, 2014 August 4, 2014

In late July TMT Investments, a UK-headquartered venture fund backed by Russian businessmen, announced the completion of a $250,000 investment in San-Francisco-based fashion rental platform Le Tote. Le Tote provides women with unlimited access to garments and accessories for a fixed price of $49 per month. The platform defines its mission as “to become the leading fashion discovery platform where …

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Russian team Brainy Studio victorious at 2014 Imagine Cup

August 4, 2014 August 4, 2014

The international final of the world’s largest student IT competition, the Imagine Cup 2014, has taken place in Seattle, organised by Microsoft. 125 students representing 34 teams from across the world battled for the prizes. The winners of the ‘Games’ category was the Russian team Brainy Studio, from Perm National Research Polytechnic University (PNRPU) with their project TurnOn. The Russian …

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Ukrainian startup Advice Wallet secures $1.5 million from Russia’s Life.SREDA

August 1, 2014 August 1, 2014

Life.SREDA, a Moscow-based venture capital firm focusing on mobile and online fintech startups, is to invest $1.5 million in Settle, a mobile payment service developed by Kiev-based startup Advice Wallet. Combining mobile payments and a loyalty scheme in one app, Settle makes it possible to both order and then pay your bill at a restaurant or café through a smartphone. …

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Short video maker Coub secures $2.5 million from VKontakte co-founders Mirilashvili and Leviev

July 30, 2014 July 30, 2014

Coub.com, a Moscow-based startup launched in 2012, has just raised $2.5 million in a Series B round from Vaizra Capital, a fund which belongs to VKontakte co-founders Vyacheslav Mirilashvili and Lev Leviev. The startup did not disclose its valuation, but its representative told the Russian business daily Vedomosti that Vaizra got a minority stake. Coub is …

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IIDF invests “up to $450,000” in two startups

July 30, 2014 December 26, 2018

Earlier this month two Russian startups – the city guide Voxxter and the online event listings service 2do2go – each received “from $250,000 to $450,000” from the Internet Initiatives Development Fund (FRII in Russian), a $200 million seed and early-stage fund launched one year ago. Voxxter intends to use the funds for technical development, broadening its service provider base, and to create new products. 2do2go …

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Russian retail loyalty solution provider Synqera prepares international expansion

July 28, 2014 July 28, 2014

Earlier this month Synqera, a provider of solutions for retailers, announced that its “Loyalty Generators” kiosks have been installed in three stores of Korablik, a Russian retail chain specializing in children’s goods. Customers who enter the store can swipe their loyalty card at these kiosks to access their history of purchases and customer profile. The …

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Heads up! Russian developers invent 3D display for safe driving

July 28, 2014 July 28, 2014

A pair of Russian developers has created an application that projects navigation information onto the inside of a car windshield, improving road safety in conditions of poor visibility. The application, called HUDWAY, was launched in Russia in August 2013, with its international version following two months later. It is already available in English, German, Polish, …

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International VC consortium injects $7 million into Russian package tour online reseller OnlineTours.ru

July 19, 2014 July 19, 2014

On Thursday Russia’s hot online travel market saw its third major venture funding operation in one month as OnlineTours, a reseller of package tours, closed a $7 million Series B round. The funds were brought in by a VC consortium that includes international funds e.ventures, Global Founders Capital and Holtzbrinck Ventures as well as Russia’s …

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Russian-American startup iBuildApp receives 3rd capital injection in 5 months

July 18, 2014 July 18, 2014

Earlier this month Rafael Sultanov, founder of the Russian-American startup iBuildApp, used his Facebook page to announce that his startup received $400,000 from “a well known CEO of a listed IT company.” However, he did not name the investor. “This is the third investment we’ve attracted in five months,” Sultanov told East-West Digital News.

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