Russian startup bets on AI to sell vitamins online and expand globally

January 28, 2022

Just eight months after launch, a startup called Vitobox — which offers personalized combinations of vitamins and nutritional supplements — has raised 107 million rubles ($1.4 million) at a $14 million valuation.  The funding will go, in particular, to international expansion: the startup plans to launch pilot projects later this year in Kazakhstan, the UAE, …

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Siberian utility filed 137 lawsuits over crypto miners using cheap power

January 28, 2022

Irkutskenergosbyt, the main utility company in Irkutsk, Siberia, is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in local electricity consumption. In total, the company has filed 137 lawsuits against customers who set up mining facilities in basements and garages. The company says these home miners are engaged in entrepreneurial …

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Finance vs. tanks: Why SWIFT might be the weapon Russia fears most

February 3, 2022

Some are calling it the “nuclear option.” As Western governments threaten Russia with a package of unprecedented sanctions aimed at deterring President Vladimir Putin from ordering an invasion of Ukraine, there’s one measure in particular that appears to strike fear at the heart of the Kremlin: cutting the country off from the global banking system.  US lawmakers have suggested …

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Russian banks begin testing digital ruble payments

January 27, 2022

While advocating a ban on crypto exchange, investment and mining in the country, Russia’s central bank has plans to launch its own digital currency. Having completed the prototype of the digital ruble platform in December, the monetary authority is now beginning to experiment with transactions. A dozen banks have been invited to join the first stage of …

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Russia’s e-commerce leader Wildberries bought a bank to launch virtual debit card and instant refund

January 27, 2022

Wildberries has just launched its first financial product — a virtual debit card that allows its customers to make purchases on the marketplace with a 2% discount. The news was reported earlier this week by RB.RU, which cited  the company’s press service.  Only users with a Wildberries account can get the ‘WB Card,’ which is provided at …

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Russian data center major IXcellerate attracts $190 million from Mubadala, RDIF and Sber

January 25, 2022

IXcellerate, one of the most established data center company in Russia, has raised approximately some $190 million. The round — the largest ever in this field in the country  — was led by sovereign wealth fund Mubadala (UAE) with participation from its Russian peer RDIF, SberInvest, and iXcellerate’s existing investors.  Cited by Sber, the state-owned financial and digital …

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In the world’s biggest country, vertical farming gains ground

January 28, 2022

Despite this recent success and the abundance of arable farmland, some see the country as ripe for the introduction of new agricultural technology in the form of vertical farming — indoor industrial greenhouses that are heavy on technology, light on physical space and located close to cities and consumers. “Vertical farming is one of the …

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US administration considers technology sanctions if Russia invades Ukraine

February 3, 2022

In the months since Russia began massing troops on the border of Ukraine, the Biden administration has, on multiple occasions, warned that any further aggression by Moscow toward its neighbor would be met with unprecedented levels of sanctions. Now, the White House appears to be dropping some specific hints about what those sanctions might look …

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From Moscow to Lille, France: This startup changes the way retailers fill product cards

May 16, 2022

While many internationally-oriented Russian startups move to Silicon Valley, or to such European alternatives as Berlin, London or Riga, Branquad made a different choice. This Russian digital commerce startup recently landed in Lille, a large, tech-friendly city in the North of France.  Not only does its case provide yet another example of an International Russian …

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Moscow court lifts US investor Michael Calvey’s restrictions on leaving home

January 25, 2022

The Meshchansky District Court of Moscow has lifted the house arrest restrictions on US citizen Michael Calvey, the founder of top private equity fund Baring Vostok,  three years after his arrest and months in jail.  The courts previously ruled that Calvey was forbidden to leave the house after 8pm, communicate with witnesses outside the framework …

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No exchange, no investment, no mining: Russia’s central bank proposes triple ban on crypto

January 27, 2022

Bank of Russia proposed today to ban cryptocurrency investment and mining as governments around the world crack down on the decentralized currencies, citing a variety of threats including monetary stability. At the moment, conducting transactions with cryptocurrencies is illegal in Russia, but investing and buying crypto through exchanges is permitted under a recent change. Russian citizens’ transactions using decentralized …

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Yandex announces settlement of anti-monopoly claims

January 19, 2022

Yandex (NASDAQ and MOEX: YNDX), one of Europe’s largest internet companies and the leading search and ride-hailing provider in Russia, today announced that it has reached a settlement with the Federal Antimonopoly Service of Russia (FAS) and a consortium of Russian Internet companies in connection with an antitrust claim brought against Yandex. The claim related …

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