News

Travelers’ social network XLander.ru secures funding from Aurora Venture Capital

July 4, 2012

Russian high tech fund Aurora Venture Capital has acquired a 25% stake in XLander.ru, a Russian social network designed for frequent travelers. The investment amount has not been disclosed, but an analyst at JP Morgan’s Moscow office estimated it could range from $1.2 million to $1.8 million, the Russian news agency RIA Novosti reported. Founded …

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From satellite communications to online charity donations, Russia’s young inventors honored at BIT Contest

July 3, 2012

BIT Contest, the largest tech contest in Russia and neighboring countries, held its finale last Thursday at Digital October, a popular tech event venue in Moscow center. This year, more than 1,000 applications were received from all Russian regions as well as from neighboring Belarus, Kazakhstan and Ukraine. A special nomination, ‘Global Track,’ has been …

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Fast Lane Ventures partners with Springstar to enroll jewellery social-saleswomen

July 2, 2012

Fast Lane Ventures, the Moscow-based serial Internet startup developer, has teamed up with Springstar, the German incubator backed by Oliver Jung and Klaus Hommel, to localize Juvalia&You on the Russian market. Juvalia&You targets women Internet users who are willing to launch their own small businesses, regardless of their professional background or age. The company provides …

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‘Doctor At Work’ secures $1 million from Bright Capital

June 29, 2012

Bright Capital, a major Russian venture fund operating internationally, announced last week its investment in Doktornarabote.ru (‘Doctor At Work’), Russia’s leading physicians’ community with nearly 80,000 registered practitioners. The fund offered $1 million in exchange for a minority stake in the startup online community, reported CNews.ru, a Russian IT news portal. Released in March 2010, …

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Android app tracks down and embarrasses Moscow’s worst parking offenders

June 29, 2012

While Moscow streets and sidewalks are crippled by haphazardly and illegally parked automobiles, an online city magazine, The-Village.ru, has launched a sophisticated e-campaign to identify and shame the offenders. Using a free Android application named ‘Parking Douche,’ smartphone users can take a picture of the culprit. The app then uses the user’s IP address, taps …

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New startup accelerator GTI Labs launched in Moscow

June 28, 2012

Moscow-based investment consulting company Global TechInnovations and investment fund Prostor Capital have announced the launch of GTI Labs, a new acceleration program for IT start-ups. GTI Labs describes itself as a sort of “investment lift” in which representatives of venture funds are part of the project selection process. The fund will assess KPIs of selected …

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Nokia ditches its Russian single-brand retail network, bets on online sales

June 28, 2012

Nokia has scrapped its plans for a single-brand retail presence in Russia and will close all of 50 of its existing Russian stores in the near future, reports RIA Novosti, citing an exchange with Nokia Vice President Erik Bertman, head of Nokia Eurasia. As of yet, there’s no official confirmation of the news on Nokia’s …

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Mamas&Papas e-caters to Russian moms and babies

June 27, 2012

Mamas&Papas, a UK-based retailer for babies and expectant mothers, has joined with Russia’s Ideas4Retail in a Russian e-store project, the company’s Russian partner announced last week. Mamas&Papas’ single-brand online outlet will offer 12 categories of goods and more than 3,500 items, including clothing for babies and pregnant women, buggies, wheelers, carrycots, pushchairs, bath essentials, furniture, …

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Yandex sharpens knives for international expansion, still seeking audience outside Russia

June 26, 2012

Yandex’s international ambitions, which began to surface publicly half a year ago, found new illustrations last week in informal statements made by the company’s CEO at the St. Petersburg International Economic Forum. “Our technical team has successfully tested technologies that will allow us to index several tens of billions of pages,” said Arkady Volozh, who …

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