Search Results for: FRII

Rambler & Co seeks startups in its shift to becoming an Internet tech firm

March 1, 2016

Rambler & Co, a major Russian tech media group, is seeking to move away from its present status as a media company towards Internet technologies. As reported by Russian daily Vedomosti, the company is creating two startup accelerators to achieve this goal. Speaking at an event hosted by the $200 million government-backed startup fund FRII …

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Fast growth appeal vs. pressure of sanctions: Western VCs’ new Russia dilemma

December 26, 2018

The past few weeks have demonstrated the uncomfortable position Western venture capitalists that have traditionally invested in Russia are finding themselves in as a result of the international tensions. While, in the eyes of some them, the Russia label has become a stigma, other VCs have proclaimed their commitment to continue investing in Russian startups …

Fast growth appeal vs. pressure of sanctions: Western VCs’ new Russia dilemma Read More

IIDF supports online project to turn “angry citizens” into “satisfied citizens”

December 26, 2018

Earlier this month the IIDF (FRII in Russian, a major fund launched last year to support Russian Internet startups), announced an investment of 44 million rubles (approximately $1.1 million) in Intelligent Social Systems. This company develops IT projects for facilitating effective interaction between the public and state agencies and commercial organisations. Its first project was “Angry Citizen,” …

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IIDF to support big data, wearable tech and Internet-of-things startups

December 26, 2018

Last week the Internet Initiatives Development Fund (IIDF, or FRII in Russian), the $200 million fund launched last year to support Russian Internet startups, announced the extension of its coverage to such new fields as big data, wearable devices and the Internet-of-Things. “We did quite a lot of research on technological trends across the world. Cloud, social and …

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Microsoft teams up with IIDF to support industrial startups

December 26, 2018

Last week the IIDF (FRII in Russian), the $200 million startup fund launched last year, and Microsoft announced that they were beginning an industrial accelerator to support startups developing IT solutions for education, healthcare, commerce, industry, the service sector, the financial sector and municipal services. The project will receive support from Microsoft Ventures, the international subdivision …

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Russian venture market continues annual decline in Q2 2014 as cross-border investment could virtually disappear

September 19, 2014

Venture investment volumes in Russia fell by 9% year-on-year (y-o-y) as the number of completed deals increased by 32% in Q2 2014, says Rye, Man and Gor Securities (RMG), an independent Moscow-based investment company, in their latest quarterly report published with the participation of East-West Digital News. 2014 continues to be a difficult year for …

Russian venture market continues annual decline in Q2 2014 as cross-border investment could virtually disappear Read More

Children’s goods online retailer Babadu.ru raises $2.9 million from IIDF

December 26, 2018

Earlier this month Babadu.ru, a children’s goods online retailer, secured a $2.9 million investment from the Internet Initiatives Development Fund (FRII in Russian). A $200 million seed stage investment fund launched last year, FRII usually invests smaller amounts at earlier stages. However, the fund has been eyeing the online children’s goods market for a long time – one …

Children’s goods online retailer Babadu.ru raises $2.9 million from IIDF Read More

Russian pension funds to invest $1 billion in venture funds and innovative companies

December 26, 2018

In a confirmation of the country’s commitment to developing new technologies, the Russian government announced that a fraction of the total assets of the country’s pension savings funds will be invested in the shares of venture capital funds, as well as in securities and the financial instruments of high-tech companies. Prime Minister Dmitry Medvedev has …

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

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

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 startup launches web-based cancer diagnosis service

December 26, 2018

Russian startup Unim (United Medicine) has launched the Unim Histology Internet service, which will make it possible for the public to send analyses remotely to the Dmitri Rogachev Federal Clinical and Research Center for Pediatric Hematology, Oncology, and Immunology in Moscow. Backed by the IIDF (FRII in Russian, the country’s largest startup investment fund inspired by …

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VC investment falls 40% in Q1 2014 – Seasonal variation or worrying contraction?

June 18, 2014

Venture investment volumes in Russia fell 42% as the number of completed deals dropped 38% in Q1 2014, says Rye, Man and Gor Securities (RMG), an independent Moscow-based investment company, in their latest quarterly report published with the participation of East-West Digital News. In what appears to be a new low for at least the …

VC investment falls 40% in Q1 2014 – Seasonal variation or worrying contraction? Read More

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