East-West Digital News

Mail.Ru and Sberbank inject $160 million in their foodtech and mobility JV

August 28, 2020 November 12, 2020

Last week Mail.ru Group, the LSE-listed Russian Internet major, and Sberbank, the state-controlled financial and technology giant, announced a capital injection of 12 billion rubles (approximately $160 million) to develop their ‘O2O’ joint venture. Agreed in June last year, this JV combines the businesses of the two groups across a variety of fields, from ride-hailing …

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Yandex offices raided by police in Minsk, employees evacuated to Moscow

August 25, 2020 August 31, 2020

Last week, Yandex evacuated a part of its Belarusian employees to Russia following a police raid on its Minsk office amid the unrest in the city. According to the Russian search giant, the Belarusian police were seeking to seize user data. Thus, on August 13, unidentified armed people came to Yandex’s office, presenting themselves as …

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Russian-founded startup secures $4 million to spread high-tech farming across cities of the world

August 25, 2020 November 11, 2020

iFarm, a startup founded in Siberia but now headquartered in Helsinki, Finland, has secured $4 million from an international pool of investors led by Gagarin Capital. This California-based VC firm had led a previous $1 million round in early 2019. iFarm’s turnkey solutions “enable anyone to grow fresh vegetables, berries, greens and edible flowers for …

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Report: Russia ranks 42nd for ‘digital qualify of life’

August 24, 2020 August 25, 2020

VPN provider Surfshark has issued a research on the “digital quality of life” (DQL) across 85 countries of the world. Revealing the factors that “have the greatest impact on digital well-being,” the study says which areas should be “prioritized to improve the potential” of a country. The countries covered account for 6.3 billion people, or 81% of the …

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Rusnano to invest more than $50 million in digital technologies

August 21, 2020 October 12, 2020

Rusnano, the Russian state-controlled nanotechnology corporation, has created a 4 billion ruble fund (around $53 million) to invest in digital technologies. Half of this amount came from state coffers as part of a national program to develop Russia’s digital economy, reported industry publication CNews.ru. Starting from the end of this year, under plans, the fund …

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Russian agroindustrial group aims for leadership in meat substitutes

August 21, 2020 August 23, 2020

Efko, a major Russian agroindustrial group, is investing 100 million rubles (around $1.3 million at the current exchange rate) to produce meat substitutes, reports Kommersant. Efko’s soya oil-based product will be used as an ingredient for hamburgers. The group will launch a pilot with a monthly output of 500 kg, which may be commercialized as early as …

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Skolkovo launches green tech accelerator with support from major Russian and international partners

August 19, 2020 November 11, 2020

Last week Skolkovo, the international tech hub on the outskirts of Moscow, announced the launch of GreenTech Startup Booster, presenting it as a first in Russia. The program is intended for companies or teams with ready-made products or prototypes of solutions that tackle environmental issues. Skolkovo expects “over 500 applicants” Six themes are covered: reducing …

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Roman Abramovich backs game publisher to design “fun, thrilling, and engaging entertainment experiences”

August 17, 2020 August 18, 2020

Norma Investment, a venture firm affiliated to Russian billionaire Roman Abramovich, has taken part in a $20 million round of funding for Russian game publisher 110 Industries. GEM Capital, an investment company founded by a top executive from the Russian oil and gas industry, and Sergey Kornikhin, a film producer, also contributed to the …

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Russian-born startup helps students make their international education dreams come true

August 14, 2020 December 28, 2020

Can you study in a top US, Chinese or European university when you have no money and lack family support? The answer is yes, as demonstrated by StudyFree, an online service that helps applicants increase their chances to get a scholarship and be admitted to educational institutions. Now claiming 23,000 users across the world, StudyFree …

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In Singapore, a Russian-born startup uses AI to penetrate the mysteries of human longevity

August 5, 2020 August 13, 2020

Can artificial intelligence and machine learning help mankind address diseases related to ageing, and delay mortality? Gero, a Singaporean company with Russian roots, believes so. To address this biological and technological challenge, Gero has teamed up with the National University of Singapore, conducting experiments involving aged animals. These works “demonstrated mortality delay (life-extension) and functional …

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Admitad owner invests $3 million in cashback service

July 31, 2020 August 4, 2020

Earlier this month AB Capital Group, the owner of international affiliate network Admitad, announced an investment of $3 million in cashback service company LetyShops. Founded by Ukrainian entrepreneurs in 2015, LetyShops is now headquartered Csomád, Pest, Hungary. Its service is available in seven languages, claiming a total of 2400 online shops and 12 million users. It stands as “one of the top cashback …

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

July 30, 2020 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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