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This edtech startup grows by 500% y-o-y and raises millions from international investors

December 3, 2020

The Russian-born edtech startup Novakid has just completed a $4.25 million Series A round. The deal was led by Hungary-based PortfoLion and LearnStart, a major edtech-focused US fund, with participation from  TMT Investments and Xploration Capital. A previous $1.5 million funding round took place less than a year ago, involving South Korean VC BonAngels and Russian VC …

This edtech startup grows by 500% y-o-y and raises millions from international investors Read More

“A World Without Work:” First-ever AI-translated book published in Russia

December 2, 2020

Three months after The Guardian published an op-ed entirely written by AI, Yandex announces the “first-ever book translated by AI from English into Russian in less than a minute and published for a mainstream audience.” The book is that of Daniel Susskind, a famous English economist, on the coming era of artificial intelligence: A World Without Work: Technology, Automation, …

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Sber displays its leadership ambition in the Russian e-commerce space

December 1, 2020

Sber, Russia’s state-controlled financial and tech giant (previously known as Sberbank), is displaying its ambitions in the field of e-commerce, in spite of several previous unsuccessful attempts. Last week, Sber announced the creation of a dedicated division to run its existing assets in this field. Among these are Sberlogistika and Sbermarket, two services which where …

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Facebook pays $53,000 fine for breaching Russian personal data storage law

December 1, 2020

Facebook has paid a 4 million ruble ($53,000) fine, which was levied in February, for violating Russia’s personal data storage law. Proceedings against the company have been dropped, Russian state-run news agencies reported — without specifying whether or not Facebook now complies with the law. Over the past years the regulator Roskomnadzor requested Facebook and Twitter several …

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Sber invests in AI-powered brand reputation management

November 30, 2020

Sber, the state-controlled financial and tech giant (previously known as Sberbank) has acquired a 8% stake in Watchout!AI  in exchange for a acquired 8%. The startup was valued at 125 million rubles, or $1.6 million at the current exchange rate. Founded in 2019, Watchout!AI uses computer vision and machine learning algorithms to “easily detect and prevent brand …

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Media reports: Online video service ivi.ru starts NASDAQ registration procedure

November 26, 2020

Just days after the triumphant NASDAQ IPO of Ozon, a leading Russian e-commerce company, another Russian digital major, ivi.ru, has started the registration procedure for a US IPO. No IPO-related documents related to Cyprus-registered company ‘ivi.ru Media Ltd’ are available yet on the SEC’s website, but two unnamed sources “close to the company” confirmed, in an …

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Sweeping reform to liquidate Bortnik Fund, Rusnano, RVC and Skolkovo as autonomous organizations

December 8, 2020

According to media reports and official communications, the Russian government adopted a reform of the country’s sprawling network of 40 development institutions, including key players of the innovation ecosystem.  This long-awaited reform aims to eliminate inefficiencies by consolidating like organisations and ensuring that each institution works specifically towards achieving Russia’s national development goals. The reform includes three components: …

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Viral ‘cyberpunk farm’ satirizes Russia’s agritech future

November 25, 2020

The latest viral sensation taking the Russian internet by storm is… a farm.  A fictional, futuristic “cyberpunk” farm, to be more specific. “Russian Cyberpunk Farm,” which imagines life at a provincial Russian village in a future dominated by tech corporations, has racked up more than 3.5 million views since it was published on YouTube last …

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Russian government launches Covid contact-tracing app

November 30, 2020

As announced previously, the Ministry of Digital Development of the Russian Federation has launched an application called ‘Gosuslugi. Covid Tracker’ to track contacts with coronavirus patients all around Russia. Users diagnosed with COVID-19 must independently report this anonymously through the application. In turn, users with whom this person came in close contact in the last …

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Leading Russian edtech startup Skyeng backed by two major investment firms

November 24, 2020

Skyeng, one of the most successful Russian startups, has received funding from two major investment firms, Winter Capital and Baring Vostok. The deal, which took place in October, was revealed only this past Friday by the Russian edition of Forbes magazine, based on exchanges with representatives of the parties involved.   Neither the amount invested …

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Global Fashion Group raises €120 million on German stock exchange; Lamoda expects capital injections

November 24, 2020

Last week Global Fashion Group (GFG), an international online fashion group focusing on growth markets – including Russia and neighboring countries where the group is represented by Lamoda – raised some €120 million in gross proceeds. The group issued new shares on the Frankfurt Stock Exchange, where it is has been listed since July 2019. These 16.5 million shares were placed with institutional …

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