Startups

Candy magnate Korkunov invests in mobile app community expecting mobile banking revolution

July 19, 2013

Andrey Korkunov, the founder of a leading candy company, has invested $1 million in Apps4all in exchange for a 15% stake, the Russian business daily Vedmosti reported yesterday. Launched in 2011, Apps4all brings together a community of mobile app developers with a variety of media, event, training, research, and advertising activities. The startup – which …

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Short video making startup Coub.com raises $1 million from Phenomen Ventures and Brothers Ventures

July 18, 2013

Coub.com, a Moscow-based startup launched last year, has just raised $1 million in a Series A round from Phenomen Ventures and Brother Ventures, two emerging Russian funds operating internationally. The startup’s valuation has not been disclosed, but the funds told East-West Digital News they received a minority stake in return for their investments. Coub is …

Short video making startup Coub.com raises $1 million from Phenomen Ventures and Brothers Ventures Read More

Government launches $200 million seed fund to create “nationwide industry of new online projects”

June 14, 2018

Earlier this week the Internet Initiatives Development Fund (IIDF, or FRII in Russian), a government-supported initiative, announced that it started receiving its first applications from individual entrepreneurs from all over Russia. The fund has received no less than 6 billion rubles (approximately $200 million) from state corporations. This huge amount is to be invested in …

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Russian startup received $300,000 in funding to help students apply to foreign universities

July 17, 2013

Last week the startup Westudy.in, intended for Russian high schoolers who wish to study abroad, announced its official launch. Recently the project received $300,000 in seed funding from Mikhail Frolkin, the managing partner of HeadHunter, a leading online resource for Russian job seekers. Westudy.in presents itself as a one-stop shop for people looking for information …

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California’s Sequent raises $12 million from Russian and US funds for mobile wallet tech

July 11, 2013

In a new illustration of the internationalization of Russia’s venture capital, SBT Venture Capital, the venture arm of the national savings bank Sberbank, has led a $12 million round to fund Sequent Software, a California-based provider of trusted service manager (TSM) and mobile commerce software and services. Sequent’s existing US investors Opus Capital and Jado …

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MoeDelo, PwC and RVC team up to launch online assistant for Russian startups

July 8, 2013

RVC, the state-owned fund of funds dedicated to innovation, and Moe Delo, a Russian online accounting startup, have launched One2start.ru, a web resource to help young entrepreneurs start, launch or grow their business. Based on an idea of Moe Delo’s co-founder Sergey Panov, One2start was designed with the assistance of PwC Russia’s Center for Technology …

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Russian funds continue investing abroad: Leta Capital and TMT Investments inject $1 million into California’s rollApp

July 8, 2013

Last week Leta Capital, the venture arm of Russian IT security solution provider Leta Group, and TMT Investments, a UK-headquartered venture fund backed by Russian businessmen, announced a $1 million investment in Californian startup rollApp. RollApp provides a software-on-demand service designed to instantly deliver existing third-party software applications to any web-browser-equipped device with  broadband/3G.

Moscow Seed Fund invests $240,000 in traffic monitoring service

July 4, 2013

The Moscow Seed Fund, the City of Moscow’s venture arm, has poured 8 million rubles (about $240,000) into a startup named Probki Iz Okna (Russian for “traffic jams from the window”). The company has created a large network of webcams installed and controlled by users to monitor the road traffic situation in real time in the …

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Family cloud platform Frolik nears completion after $1.5 million investment

July 4, 2013

MTT, a Russian telecom group owned by VTB and former telecommunication minister Leonid Reiman, has announced that it has invested 50 million rubles (about $1.5 million) in Frolik, a service for children and their parents, since project start in September 2012. “As for future investments, we will continue funding the project,  but we are open …

Family cloud platform Frolik nears completion after $1.5 million investment Read More

RVC and Softline invest $1 million in social site builder BubbleGab

July 3, 2013

BubbleGab, a Russian startup developing a SaaS platform for building websites, has attracted $1 million in funding from RVC’s Seed Fund and Softline Venture Partners, the venture arm of the Softline Group. Founded in 2011, BubbleGab is working on a platform to allow users to create personal websites and social networks based on the information …

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Rocket Internet’s furniture online retailer Mebelrama.ru is shutting down

July 2, 2013

Russian furniture e-retailer Mebelrama.ru, which had been backed by Germany’s Rocket Internet, is shutting down, the company’s co-founder Manuela Stoll confirmed in an exchange with East-West Digital News. In late 2012, the startup landed a $10 million financing round from Rocket Internet, but at present the decision was made to shut the project down.

Dmitry Falkovich’s Phenomen Ventures leads Delivery Hero’s $30 million round of financing

July 2, 2013

Phenomen Ventures, a $300 million international venture fund launched last year by Russian businessman Dmitry Falkovich, has led a $30 million Series D financing round for Delivery Hero, a Berlin-based food delivery startup operating globally. Delivery Hero’s existing investors, which include Russia’s Kite Ventures, also participated in the round. “Delivery Hero is catching up quickly …

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