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Silicon Valley billionaire Yuri Milner renounces Russian citizenship

October 26, 2022

Billionaire Silicon Valley investor Yuri Milner said Monday he had renounced his Russian citizenship. “My family and I left Russia for good in 2014, after the Russian annexation of Crimea. And this summer, we officially completed the process of renouncing our Russian citizenship,” the Moscow-born Milner tweeted. Milner, founder of the internet investment firm DST Global and …

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How Russian game developers have been hit by the shockwave of war

July 7, 2022

Russia’s war on Ukraine and the subsequent western sanctions seem to have put the once-thriving Russian and Belarusian gaming industries in serious trouble. It took just weeks to Wargaming, the Belarusian-born, Cyprus-headquartered developer of World of Tanks and World of Warships, to react to the events. In early April, the company announced its decision to “leave Belarus and …

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How two Russian-founded startups in the US became collateral victims of Putin’s war on Ukraine

March 14, 2022

After Russian entrepreneurs asserted themselves last year as chief disruptors in the global food delivery industry —  fulfilling orders in around 15 minutes in a variety of Western cities — some of them are now falling as collateral victims of Putin’s war on Ukraine.  In early March Buyk — a fresh food delivery service with sizeable operations in New York and Chicago — abruptly …

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Flint Capital’s new $103 million fund already claims two successful exits

December 10, 2021

In June this year Flint Capital, a Boston-based venture firm with Russian roots, closed its second venture fund, attracting $103 million to invest in startups from Seed, to Series A and B stage startups.  The firm publicly announced its new fund only this week, as it already invested in no less than 18 startups with two successful exits — Loom …

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New fund launches in Russia: digital bank, mobile operator and alleged Putin daughter in the game

November 18, 2021

The ‘Fund for Technological Investments,’ a newly registered startup investment vehicle, made the news in Russia last week. This was due neither to any impressive investment capacity (just around 3 million rubles, or $40,000, per deal), nor to any special investment thesis. What is less common is the identity of one the instigators of this …

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Yandex acquires Wind’s Israeli e-scooter operations

October 15, 2021

Russian tech giant Yandex is expanding its mobility footprint in Israel with the acquisition of shared e-scooter company Wind’s Israeli operations. The two are not sharing the terms of the deal, but Israeli financial newspaper Globes reported that it is estimated to have cost $40 million to $50 million. Wind is one of the top e-scooter sharing …

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Russian pregnancy app reaches 10 million users globally, raises $2 million to pursue expansion

October 5, 2021

Amma Pregnancy Tracker, a fast-growing, Russian-made mobile application for pregnant women, has attracted $2 million to fuel its international expansion. The startup plans to develop teams in Latin America, its largest market today by number of users, as well as in Southeast Asia, and to grow its 10 million+ user base.   This app helps …

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Why is Russia not using Pegasus spyware?

July 27, 2021

When a group of international investigative journalists and researchers broke the news that spyware called Pegasus, produced by the Israeli NSO Group, had helped repressive governments across the world spy on journalists, activists and lawyers on an unprecedented scale, the question emerged: Where was Russia? Russia’s government bodies — the secret services — are known …

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Russian maintenance service marketplace Wowworks raises $3.6 million to become a global major

July 13, 2021

Wowworks, a Moscow-based startup providing corporate clients with a variety of maintenance services, has raised $3.6 million from three VCs: AddVenture, one of the most established VC firms with Russian roots; DV Capital,  a recently-founded, Moscow-based VC firm; and LVL1, a vehicle of Russian-Israeli tech investor Lev Leviev.   Back in 2017, the startup already secured $1 million from …

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X5 pursues innovation path through dark kitchens, freshness sensors and facial recognition payments

April 16, 2021

X5 Retail Group, a leading Russian food retailer listed on the Moscow and London stock exchanges, has acquired a dark kitchen company called Mnogo Lososya (‘A Lot of Salmon’). The group’s head Igor Shekhterman revealed the transaction earlier this week in a media interview, without providing any financial details.  “While we see great potential in this business, we didn’t have …

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Victor Orlovski of Fort Ross Ventures: “The pandemic has brought a lot of opportunities for disruptive startups”

December 3, 2020

Launched seven years ago in Silicon Valley with support from Sberbank, Fort Ross has made its Russian roots an advantage in the eyes of US startups seeking global development opportunities. The venture firm now aims to enlarge its coverage to Europe, with two new funds announced in the past months. Its General Partner Victor Orlovski …

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AddVenture, Target Global and Lev Leviev invest $4.5 millon in Russian medical insurance startup

July 30, 2020

A Russian medical insurance startup called BestDoctor has raised $4.5 million from major Russian investors. These include AddVenture, a pioneer in the Russian venture business, Target Global, a fund with Russian roots operating from Berlin, and LVL1, the investment company of Russian-Israeli Lev Leviev. This is BestDoctor’s third round of equity funding since inception in …

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