Finance

Alleged threats on Yandex’s independence scare international investors and Russian IT community

October 23, 2018

Sberbank, Russia’s leading banking institution, has reportedly approached Yandex founder Arkady Volozh regarding the potential acquisition of a controlling stake in the Russian search company. Yandex is listed on both the Moscow exchange and the NASDAQ. The state-controlled bank would consider the acquisition of an at least 30% stake, Russian business publications Vedomosti and The Bell reported yesterday, …

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Abbyy and Softline invest in document software technologies

October 21, 2018

Abbyy, a Moscow-headquartered global provider of content intelligence solutions and services, has acquired ATAPY Software, as reported by online publication Rusbase. The terms of the deal have not been disclosed. Based in Novosibirsk, Siberia, ATAPY Software provides a variety of custom software development services in the fields of document workflow, document imaging, data capture, optical character recognition (OCR), …

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Severstal Ventures backs international fund to invest in intelligent systems and automation solutions

November 12, 2020

Severstal Ventures, an investment vehicle created earlier this year by the Russian steel and mining giant Severstal, has backed the first round of the Chrysalix RoboValley fund (Chrysalix RBV GP Ltd), along with other corporations. The amount of Severstal Ventures’ contribution has not been disclosed officially, but in an exchange with Russian business daily Vedomosti, …

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

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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Russian and Abu Dhabi sovereign funds inject $7.5 million into Russian online freight service

October 3, 2018

Russian startup Deliver (formerly iCanDeliver) has just announced the completion of a $7.5 million investment deal. The backers are Russian Direct Investment Fund (RDIF) and Mubadala, the Russian and Abu Dhabi sovereign funds, respectively. The respective contributions of the two funds have not been disclosed, but Deliver founder Danil Rudakov told Vedomosti that the investment will …

Russian and Abu Dhabi sovereign funds inject $7.5 million into Russian online freight service Read More

Video surveillance tech provider Ivideon secures $8 million to pursue international development

October 2, 2018

Ivideon, a Russian startup that has developed a cloud-based video surveillance technology, has raised $8 million from Rusnano Sistema SICAR and Skolkovo Ventures, according to a joint statement published yesterday. The company intends to use the funding to enlarge its development team and boost its international marketing effort. The Ivideon system is designed to work with any existing …

Video surveillance tech provider Ivideon secures $8 million to pursue international development Read More

Sistema Asia Capital backs yet another Indian food delivery startup

September 28, 2018

Earlier this month Sistema Asia Capital, one of the corporate venturing vehicles of the Russian conglomerate AFK Sistema, took  part in a $25 million Series C funding round for Licious, an Indian online meat and fish ordering startup. The funding round was led by Bertelsmann India Investments, UCLA, and Vertex Ventures Southeast Asia & India, while Mayfield …

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Airline company S7 to launch $50 million venture fund

September 27, 2018

S7 Group, a major Russian airline company, is about to launch a $50 million venture fund, Vedomosti reports. Since last year, the group has already invested some $10 million “in startups developing digital and industrial technologies,” S7’s VP for innovation Dmitry Chuiko told the business daily. These startups are from Western Europe, the USA, India and China, with …

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AddVenture leads new funding round for Dubai-based home services marketplace

September 25, 2018

AddVenture, an international venture fund with Russian roots, has led a $4 million round of funding for ServiceMarket, a Dubai-based home services marketplace (previously known as ‘MoveSouq’). Emaar Properties, a local real estate development company, also participated in the round in undisclosed proportions. AddVenture led a previous $3 million round one year ago. Seed and …

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AI-powered service marketplace raises $17 million to “disrupt the classifieds market”

September 23, 2018

YouDo.com, a platform that matches people requesting and providing day-to-day services, has raised $17 million in an equity funding round led by mobile operator MTS, as reported by the business daily Kommersant. MTS put $12 million on the table, while undisclosed amounts were brought by Sistema Venture Capital (one of the investment vehicles of Sistema, a …

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WayRay secures $80 million from international consortium, targets $1 billion valuation in 2019

September 19, 2018

Wayray, a startup with Russian origins which has developed holographic AR displays for cars, has attracted $80 million in a Series C round led by Porsche and China Merchants Capital, a major Chinese investment firm. The other investors are Hyundai Motor, Alibaba Group, JVCKENWOOD and a consortium of sovereign funds. These include the Russia-Japan Investment Fund, established last year, alongside the …

WayRay secures $80 million from international consortium, targets $1 billion valuation in 2019 Read More

Six months after initial investment, Grishin Robotics injects more millions into Brazilian bike-sharing service

September 19, 2018

Grishin Robotics, an international venture fund with Russian roots, has taken part in a $63 million funding round for the Brazilian stationless bicycle-sharing platform Yellow. The round was led by Silicon Valley investment firm GGV Capital. It is the largest Series A ever for a Latin American startup, according to TechCrunch. In April this year, Grishin Robotics …

Six months after initial investment, Grishin Robotics injects more millions into Brazilian bike-sharing service Read More

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