Finance

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

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 …

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Da Vinci Capital invests in DataArt, a global tech consultancy with roots in Eastern Europe

November 13, 2018

Da Vinci Capital, a major EBRD-backed Russian private equity firm, has invested an undisclosed amount in DataArt in exchange for “a substantial, non-controlling interest” in the company. Founded in 1997, DataArt is a New York City-headquartered company with roots and R&D teams in Ukraine and Russia. It has become a major global tech consultancy that designs …

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Russian-founded VR gaming startup secures €3 million to develop across Europe

November 21, 2018

Stalker Fund, a VC  firm with Austrian roots, has invested €3 million in Another World, which develops virtual reality location-based entertainment (VR LBE) offers. The deal was closed in August, but was made public only recently. Founded by a Russian team, the startup has its headquarters registered in Cyprus, even though it kept its R&D team in …

Russian-founded VR gaming startup secures €3 million to develop across Europe Read More

Russian-founded software publisher RealtimeBoard raises $25 million in California

January 9, 2019

RealtimeBoard, a startup with Russian roots which offers a visual collaboration tool for distributed teams, has raised $25 million in California. This Series A funding round was led by Accel, with participation from existing investor AltaIR Capital, a seed stage fund with Russian and Israeli roots. Another investor in RealtimeBoard is Dutch businessman Bas Godska, …

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Yandex.Taxi asserts market leadership, announces new acquisitions

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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With 27 offices worldwide, Yandex demonstrated strong growth in Q3 2018

October 31, 2018

Yandex, the NASDAQ-listed Russian search giant, announced its quarterly earnings  yesterday, demonstrating an impressive growth. Thus, in Q3 2018, the company’s revenues jumped to 32.6 billion rubles ($496.6 million), up 39% compared with Q3 2017, while its net income reached 4.8 billion ($72.7 million) a whopping 459% increase year-on-year (net income margin: 14.6%; adjusted net income 6.1 …

With 27 offices worldwide, Yandex demonstrated strong growth in Q3 2018 Read More

Usmanov drops Mail.Ru control to protect the group from potential US sanctions

October 31, 2018

Russian billionaire Alisher Usmanov, whose holding company USM so far controlled Mail.Ru Group via MF Technologies, “is no longer the ultimate controlling party” of the group, according to a statement published earlier this week. USM and MegaFon, two key shareholders of MF Technologies, have authorized the group’s management led by CEO Boris Dobrodeev to exercise voting rights …

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Skolkovo develops R&D and venture projects with Chinese players

October 27, 2018

Earlier this month, as the Open Innovations forum gathered thousands of Russian and foreign participants on the outskirts of Moscow, the Skolkovo Foundation signed agreements with Chinese players. As reported by Skolkovo news portal Sk.ru, the Russian tech hub agreed with Chinese telecoms giant Huawei to set up a joint innovations center. The R&D effort …

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Mail.Ru Group and top Western business angels invest in wholesale food supply startup Foodza

November 12, 2020

Foodza, a startup that organizes direct supplies of fresh fruit and vegetable to retail stores, restaurants and cafés, recently secured $1 million in a round of funding led by Mail.Ru Group. Among the other participants in the deal are Larix VC, a fund launched by Moscow-based businessmen Oskar Hartmann and Igor Rybakov; FJ Labs, the investment …

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Alfa Group invests in the embryonic Russian insurtech market

October 25, 2018

One of Russia’s first sizable insurtech projects is set to emerge soon, with millions of US dollars being invested in an online-only insurance offer. Dubbed ‘Mango,’ the platform will sell its own products and those of traditional insurance companies through a “technologically advanced marketplace,” CEO Viktor Lavrenko told Russian daily RBC earlier this month. “Our …

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IT security startup Wallarm raises $8 million to continue its Russian-American success story

October 23, 2018

Wallarm, a cybersecurity startup with Russian roots, announced yesterday the completion of a $8 million round in California. The round was led by Toba Capital with participation from Partech Ventures and Gagarin Capital (which had invested in the company’s previous round) and Y Combinator (from which Wallarm graduated in 2016). “Given the growing sophistication of …

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

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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