Adrien Henni

Russia hits 27th place in Bloomberg innovation ranking, between Malaysia and Luxembourg

January 24, 2019 January 25, 2019

Bloomberg’s latest ranking of “the world’s most innovative countries,” published this Tuesday, puts Russia at the 27th place, between Malaysia and Luxembourg. In Russia’s Eastern European neighborhood, Poland does better than Russia (22th place) but Romania (29th), Ukraine (53rd) and, most surprisingly, Estonia (36th) are behind. South Korea retains the first place in this global ranking, …

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2018 Eastern Europe and Central Asia Tech Investment Overview

January 16, 2019 January 22, 2019

Tech investment volumes in Eastern Europe and Central Asia were modest last year, if compared with the Chinese, US or Western European markets. However, 2018 was marked by giant corporate deals involving international players while a series of smaller venture transactions illustrated the diversity of the regional startup scene. In this review, which encompasses Russia, …

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State fund of funds RVC to launch $100 million edtech fund

January 4, 2019 December 24, 2019

RVC, the state-owned fund of funds dedicated to innovation, intends to launch an investment fund to support innovation in the field of education technologies in Russia. With a considerable target amount – 6.9 billion rubles (roughly $100 million at the current exchange rate) – and a 10-year duration, the fund is being created in the framework of …

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Corel acquires leading cross-platform solution publisher Parallels

December 24, 2018 December 25, 2018

Parallels, a global leader in cross-platform solutions founded in 2000, has been acquired by the Canadian software giant Corel. As a result, “Corel now offers the complete Parallels product line as part of its industry-leading software portfolio,” according to a corporate statement published Dec. 20. Parallels’ products – including its popular software for running Windows on Mac …

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Yandex and Sberbank launch two marketplaces, aim for e-commerce leadership

December 18, 2018 October 9, 2019

As the Russian e-commerce market is entering a new growth and concentration cycle, the joint venture formed by Yandex and Sberbank, launched two online marketplaces over the past few weeks. One of them, dubbed ‘Beru’ (“I’ll take it”), became fully operational in early November, after five months of beta testing. The platform features “over 1,000 retailers and …

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Snapchat reportedly buys Teleport’s technology, woos its best developers

December 13, 2018 December 14, 2018

Note: This story has been updated following new elements brought by one of Teleport’s founders Snapchat has hired some of the best developers of Teleport, a startup launched by tech entrepreneurs from Ukraine, Estonia and Russia. The US company is also said to have acquired the processing image technology developed by this company, which claims it …

Snapchat reportedly buys Teleport’s technology, woos its best developers Read More

German Westwing sells Russian e-commerce business to Elbrus Capital

November 22, 2018 November 27, 2018

Westwing, a German e-commerce company selling furniture and designer home accessories, has sold to one of the funds of Elbrus Capital its subsidiary covering Russia and Kazakhstan. This full acquisition was closed in mid November, Elbrus Capital Senior Partner Dmitry Kryukov told Russian business daily Kommersant. The amount of the transaction has not been disclosed, but in …

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Leta Capital’s new $50 million fund helps software startups “eat up the world”

November 14, 2018 November 19, 2018

In early 2018 Leta Capital launched its second fund to invest in promising software technologies. As much as $50 million were contributed by Alexander Chachava, the founder and CEO of IT security solution provider Leta Group, and a few family offices, told us fund partner Sergey Toporov. Among the investors are also the founders of …

Leta Capital’s new $50 million fund helps software startups “eat up the world” Read More

Yandex.Taxi asserts market leadership, announces new acquisitions

November 2, 2018 November 12, 2020

Several news came last month from Yandex.Taxi, the taxi-hailing company which merged activities in Russia and some neighboring countries with Uber earlier this year. The company bought the software assets of a Moscow-based company, Nowtaxi. The software supports the accounting of operations with affiliated drivers and provides related analytics. Formally, the software assets, not the company, have …

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Kremlin requests big corps to contribute to giant state-directed tech investment plan

October 23, 2018 November 12, 2020

Following a Kremlin initiative, 15 big Russian corporations from the metallurgical, chemical and oil industries are likely to become unenthusiastic high tech and social investors. This past July, the Kremlin administration announced its intention to take 500 billion rubles (some $7.7 billion at the current exchange rate) out of the corporations’ “superprofits.” These corporations include Alrosa, Evraz, Magnitogorsk Iron …

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Morgan Stanley sees Russian e-commerce grow nearly 3-fold by 2023

October 15, 2018 October 9, 2019

According to a Morgan Stanley report released last month, the Russian e-commerce market for physical goods will grow to $31 billion by 2020 and may reach $52 billion by 2023 – up from around $18 billion (1,040 billion rubles) in 2017. “Russia is the last major emerging market without a dominant online retailer. Russia is at …

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Sberbank, Rambler & Co and UCS join forces to create multifunction food service platform

October 5, 2018 October 12, 2018

Sberbank, Russia’s national savings bank, Rambler & Co, a sizable Internet group, GHP Group, a wealth management and financial advisory, are joining forces to create a multi-function platform for the Russian restaurant and food delivery market. Also taking part in the venture are Grigory Gurevich and Evgeny Malakhov, who are the founders of restaurant automation software …

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