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Russian government approves $2.6 billion 5G deployment plan until 2024

November 24, 2020

Last week a government commission “on digital development, the use of information technologies for improving the quality of life and the conditions of doing business” approved a 5G deployment roadmap for Russia. “The transition to 5G technologies is one of the priorities to digitalize the Russian economy, since is provides the ground for quality growth …

Russian government approves $2.6 billion 5G deployment plan until 2024 Read More

Russian corporate fund Sistema_VC backs again UK agritech startup KisanHub

November 23, 2020

For the second time in less than 18 months, Sistema_VC, one of the venture investment vehicles of Russian conglomerate Sistema, has backed UK agrotech startup KisanHub. The latest round, announced last week, provided £1.12 million ($1.49 million) to the Cambridge-headquartered startup. The round was led by Low Carbon Innovation Fund II (LCIF2) with co-investment matching coming from …

Russian corporate fund Sistema_VC backs again UK agritech startup KisanHub Read More

Mail.ru Group and Google launch international accelerator for video game developers

November 23, 2020

Google and My.Games, a branch of Mail.ru Group, last week announced a joint accelerator program “for promising mobile game studios and projects.” Dubbed ‘Game Drive,’ this accelerator targets studios from the EMEA region, including Western Europe, Russia and other Russian speaking countries, region, Turkey, Israel, the Middle East and Africa. The selected projects will receive an …

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The alliance between Mail.ru Group and Sber is not stable, say media reports

November 22, 2020

According to media reports last week, the alliance of Sber (the state-controlled financial and technology giant previously known as Sberbank) and Mail.ru Group (an LSE-listed Russian Internet major) is not stabilized yet.  Financial Times reported the two companies are yet to align their strategic visions of the ecosystem they are building jointly. Sber sees its …

The alliance between Mail.ru Group and Sber is not stable, say media reports Read More

Now fully owned by Sber, Yandex.Checkout rebrands to ‘YooMoney’

November 19, 2020

Yandex.Checkout, a leading Russian payment service provider, is going to run its international operations – essentially in cross-border B2C payment operations – under a new brand, ‘YooMoney.’ The company says the transition will be completed by mid-December, 2020.  As for domestic operations, they are now run under brand of ‘YooKassa.’ These changes are coming as …

Now fully owned by Sber, Yandex.Checkout rebrands to ‘YooMoney’ Read More

Rostelecom to take control of waste management solution provider for $16.7 million

November 20, 2020

Rostelecom, Russia’s national telecom operator, is in the process of acquiring a 51% stake in Bolshaya Troika (Big 3), a provider of waste processing automation solutions. The transaction, which amounts to 1.275 billion rubles ($16.7 billion at the current exchange rate), will be completed in the first half of 2021 “after successful launch of a …

Rostelecom to take control of waste management solution provider for $16.7 million Read More

Russian government prepares to launch coronavirus contact-tracing app

November 19, 2020

Russia’s Digital Development Ministry is finishing work on a new mobile app designed to combat the spread of COVID-19. Its working name is ‘Stopcoronavirus. My contacts.’ The contact-tracing app, which relies on technologies developed by Apple and Google, is designed to track nearby mobile devices and warn the user if they have been within 10 …

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New Russian AI and cloud investment firm backs 3D rendering company Megarender

November 19, 2020

Russian 3D rendering company Megarender has secured $3 million from Scalo Technologies, a firm launched earlier this year to invest in artificial intelligence and B2B cloud services. Megarender facilitates access to powerful servers to increase considerably the speed of 3D rendering. Customers may thus use such software as 3ds MAX, Arnold, Blender, Cinema 4D, Corona Renderer, …

New Russian AI and cloud investment firm backs 3D rendering company Megarender Read More

From energy policies, to education, to crime investigation, Russian government bets on AI to achieve its digital transformation

November 18, 2020

The Russian government has plans to use of artificial intelligence increasingly in the framework of its digital transformation.   On November 12, the heads of digital transformation of seven federal ministries and agencies — covering energy, industry and trade, culture, education and science, cadastre, agriculture, and taxes — gathered in a “strategic session on artificial …

From energy policies, to education, to crime investigation, Russian government bets on AI to achieve its digital transformation Read More

Amid strong investor demand, Ozon hopes to raise up to $1 billion in US IPO

November 18, 2020

Ozon, the leading multi-category e-commerce platform in Russia, filed today an amended version of the SEC registration statement for its NASDAQ IPO. The company will go public at a valuation of $4.6 billion to $5.6 billion, Financial Times reports from unnamed sources “familiar with the plans.” This is is more twice as high as the underwriters’ initial highest estimates, …

Amid strong investor demand, Ozon hopes to raise up to $1 billion in US IPO Read More

Russia’s first AI-powered harvesting successes open the way to a wave of agritech innovation

November 17, 2020

Cognitive Technologies, an established Russian software corporation, is developing one of the world’s most advanced autonomous AI-based driving systems for farming equipment. Under the brand ‘Cognitive Agro Pilot,’ this system was used across 35 regions of Russia when reaping the 2020 harvest. “Between June and October 2020, over 350 autonomous harvesters fitted with [our] solutions …

Russia’s first AI-powered harvesting successes open the way to a wave of agritech innovation Read More

Russia’s BioFoodLabs health food is flourishing in times of pandemic

November 17, 2020

Russians have been bingeing on health food in an effort to build up their immune systems in the hope of protecting themselves from the novel coronavirus. That’s how Elena Shifrina, former model, MIT alumnus and now CEO of Russia’s premier health food company BioFoodLabs explains the surge in sales this year. bne IntelliNews profiled Shifrina three years ago when …

Russia’s BioFoodLabs health food is flourishing in times of pandemic Read More

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