Startups

Ratmir Timashev of ABRT on investing in Russian startups: “For Western funds, there are good opportunities in Russia, but it’s far easier to invest in Silicon Valley”

April 23, 2014

Ratmir Tymashev, a partner in venture fund ABRT, has been investing in partnership with Luxembourg-based fund Mangrove Capital Partners since 2007. In this article, published initially by Hopes & Fears, a Russian online publication dedicated to startups and entrepreneurship, he draws on this experience to explain how foreign funds approach the Russian IT sector.

Moscow Seed Fund injects $210,000 into educational game publisher Mersibo

April 23, 2014

Moscow Seed Fund, the venture arm of the Moscow city authorities, has invested 6 million rubles (approximately $210,000) in Mersibo, a developer of online educational games for children. The funds will be used to strengthen staff, develop mobile versions and create new games. The startup is also considering international expansion. It plans to release a …

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Russian calorie intake tracker makes crowdfunding splash at Indiegogo

April 22, 2014

HealBe, a St. Petersburg-based startup, has won the hearts of crowdfunders at Indiegogo.com with GoBe, its wearable device for automatic calorie intake measurement. A campaign that started on March 5 with a fairly unassuming goal of raising $100,000 largely for promotional purposes drew to a close last Tuesday with $1,084,311 – all of it available to …

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E-learning platform Netology raises Series A funding round from InVenture Partners

April 21, 2014

Netology, a major Russian online education platform featuring interactive video courses, announced last week that it had completed a Series A round of financing from InVenture Partners, a $100-million Russian venture fund. The amount of the transaction was not disclosed, but the company stated that the investor had secured a minority stake based on a $5.6 …

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Government IT fund partners with VCs and industry players to increase startup support

April 21, 2014

Rosinfocominvest, a government fund set up to back IT and telecom projects, now has 12 partnerships with major Russian IT players and VC funds under its belt, all set to jointly invest in IT startups. The Russian Ministry of Telecom and Mass Communications, which stands behind the Rosinfocominvest project, emphasized that this represents “a fourfold …

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Helsinki conference invites Russian startups and investors to discuss funding, scaling, and exiting challenges

April 18, 2014

ArcticStartup, the Helsinki-based news blog covering breaking startup news from the Nordics and Baltics, is proud to announce the upcoming “Arctic15: Exit Path” conference, which will pull in an estimated 800 entrepreneurs, investors, and corporate M&A advisors in Helsinki on May 27th and 28th. More than 20 international speakers will attend the conference, including Trip …

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TechCrunch Moscow winner Dreamroomer attracts US investor

April 15, 2014

Dreamroomer, which won the Startup Battle at TechCrunch Moscow in December 2013, has raised investment from San Francisco fund 415x Inc. The project has created a service that aims to turn the property rental market on its head by helping landlords to find tenants, instead of vice versa. Property owners add their apartment to DreamRoomer’s …

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Russian VC fund backs Finnish solution for mobile sharing of TV moments

April 11, 2014

GS Venture, the one-year-old venture arm of GS Group, has announced its first international investment. Set up last summer to “support entrepreneurial innovators and startup teams” in Russia, the fund decided to establish presence in Finland with a €200,000 injection into Tellyo, a Helsinki startup. The young Finnish company has developed Share the Moment, a …

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St. Petersburg educational gaming app publisher FlexyMind secures Series A funding round

April 7, 2014

Last month St. Petersburg startup FlexyMind closed its second round of funding with an investment from RWM Capital, a Russian fund management firm, for further development of its educational gaming apps for mobile devices, reported Marchmont News. Neither the amount of the transaction nor the startup’s valuation were disclosed. Near-term plans for the young company …

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Flint Capital invests in online marketing platform SailPlay

April 3, 2014

Flint Capital, a $30 million high-tech investment fund based in Moscow, has invested in SailPlay, a solution provider for retailers building loyalty programs. Neither the amount of the deal nor the valuation of the startup have been disclosed. SailPlay’s solution has many similarities with that of US startup 500friends. Intended for online and offline shops, …

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