Startups

Moscow startup receives $4 million from state funds to develop high-tech prostheses

January 20, 2021

Motorica, a Moscow-based high-tech prosthetic startup, has attracted 300 million rubles (some $4 million at the current exchange rate) from two major government funds: the sovereign wealth fund RDIF and the Far-East High Technology Fund. The news was reported yesterday by business publication RBC, which cited exchanges with the Far-East fund’s press service.  Touting itself as “the only company in the world to make …

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Yandex invests in Russian DNA testing company

January 19, 2021

Last month, according to media reports, Russian DNA testing company Genotek raised $4 million in a funding round led by Yandex. No information was disclosed about the other investors or the terms of the deal, and Genotek did not answer EWDN’s media inquiries.  The company, founded in 2010, says it partners with “leadings Russian and European research institutes in the field of genetics and …

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Open banking startup secures $1.6 million from Russian-Belarusian state-backed fund

January 12, 2021

An award-winning fintech startup from Moscow, APIBank, has attracted 120 million rubles in Russia (some $1.6 million at the current exchange rate) from the Russian-Belarusian Investment Fund (RBF Ventures). As reported by CNews.ru, this is the first external capital infusion — in the form of a convertible loan — in this startup launched in 2018. The money will be used “to develop products for payment aggregators and marketplaces, and …

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Russian online freight service Deliver secures $7 million to pursue international expansion

January 6, 2021

In the last days of December Deliver announced it secured 500 million rubles (nearly $7 million at the current exchange rate) from VEB Ventures (formerly VEB Innovations), a venture fund backed by state development agency VEB.RF (Vnesheconombank). An internationally successful Russian online freight service, Deliver has set for itself the mission of “solving the inefficiencies of the logistics market by applying modern …

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Russian edtech on the rise: Kodland raises $1.5 million to expand internationally

January 11, 2022

Illustrating the current traction of Russian edtech startups, online programming school Kodland has raised $1.5 million in its first round of financing. The money was brought in by Russian venture capitalist Alexander Nevinsky (a partner at I2BF) and an unnamed “European fund,” as reported by VC.RU.  The startup will use the fresh funding to test product …

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Russian startup attracts $1.2 million to develop AI-powered diagnostics and disease risk assessment tools

December 25, 2020

Botkin.AI (Intellogic), a Russian startup that has developed an AI-powered radiology platform, has completed a 160 million rubles Series B round ($1.2 million at the current exchange rate). The money was injected by two medtech investors: investment holding Tashir Medica and RVC-backed Unicorn Capital Partners.   The funds which took part in the previous round (100 million rubles in June 2019) backed again the …

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Oleg Dubnov of Skolkovo Energy Cluster: “Green is not contradictory to business — and technology is key to this”

December 24, 2020

After holding top positions across the Russian energy industry for more than a decade, Oleg Dubnov has been heading Skolkovo’s energy cluster since 2017. He shared with East-West Digital News fresh insights about the emergence of green technologies in Russia, the related industrial challenges and the international potential of Russian startups in this field. So …

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IntellectoKids raises $3 million from US, Russian, Cypriot and Ukrainian funds

December 15, 2020

IntellectoKids, a Russian-founded edtech startup, has raised a $3 million Series A round, reports VC.RU. The funding was provided by Allrise Capital (Silicon Valley), Vershina Capital (Moscow) and Quonota Investments (Cyprus), as well as Genesis Investments, a major Ukrainian investor which led a previous round just a year ago.  Founded in 2016, IntellectoKids offers a media, entertainment and education platform …

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Hoversurf wants to make Russia a global leader in air mobility

December 11, 2020

Russian businessman and philanthropist Ismail Akhmetov has invested in Hoversurf, a pioneer in autonomous flying vehicles. The amount of the deal was not disclosed, but company valuation was established at $30 million, the Russian media reported. Previous investors in the company include Qiwi co-founder Sergey Solonin, the Starta Ventures fund and several Russian individual investors. …

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Online education platform gets huge funding boost from Mail.Ru, RDIF and Russia-China Investment Fund

December 8, 2020

Uchi Group, the publisher of Russia’s leading online education platform for school pupils, has agreed an investment of at least 3.75 billion rubles ($50 million at the current exchange rate) from Mail.Ru. The LSE-listed group will receive a 25% stake in exchange for this amount, while the RDIF, Russia’s sovereign wealth fund, and the Russia-China Investment …

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This edtech startup grows by 500% y-o-y and raises millions from international investors

December 3, 2020

The Russian-born edtech startup Novakid has just completed a $4.25 million Series A round. The deal was led by Hungary-based PortfoLion and LearnStart, a major edtech-focused US fund, with participation from  TMT Investments and Xploration Capital. A previous $1.5 million funding round took place less than a year ago, involving South Korean VC BonAngels and Russian VC …

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Sber invests in AI-powered brand reputation management

November 30, 2020

Sber, the state-controlled financial and tech giant (previously known as Sberbank) has acquired a 8% stake in Watchout!AI  in exchange for a acquired 8%. The startup was valued at 125 million rubles, or $1.6 million at the current exchange rate. Founded in 2019, Watchout!AI uses computer vision and machine learning algorithms to “easily detect and prevent brand …

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