Skoltech and IBM researchers create energy-efficient optical switch for next-gen computers

September 25, 2021

An international research team led by Skoltech and IBMResearch has created an extremely energy-efficient optical switch that could replace electronic transistors in a new generation of computers manipulating photons rather than electrons. In addition to direct power saving, the switch requires no cooling and is really fast: at 1 trillion operations per second, it is …

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Amid market breakthroughs and geopolitical crises: 20 years of venture capitalism in Russia

September 24, 2021

The Russian venture market, which barely reached $700 million in 2020, could double this year, if judging by the performance of the first semester. Since it started to emerge in the nineties, this market experienced periods of growth, followed by crisis shocks which threw it down repeatedly. Alexey Solovyov, a figure of the Russian venture …

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Russia mandates social networks to “self-control” unlawful content

September 25, 2021

This past Wednesday Roskomnadzor, Russia’s telecom and Internet regulator, announced the launch of a registry of major domestic and foreign social networks. The regulator cites amendments to the Russian legislation on information and information technologies which came in force on Feb. 1, 2021. Establishing the “self-control” of social networks, these new rules mandate them to …

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How Russia forced Apple and Google to block anti-Kremlin app on parliamentary election day

September 28, 2021

On Sept. 17 Apple and Google disabled Russian users’ access to the pro-opposition ‘Smart Voting’ app in their online stores. Just hours later Telegram, the international instant messenger whose creator Pavel Durov touts its full independence, dealt a new blow to ‘Smart Voting’ by suspending — in a selective and controversial way — bots associated with …

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M.Video-Eldorado acquires online lending platform, aims to deploy fintech services “across the entire Russian retail market”

September 23, 2021

Russian consumer electronics major M.Video-Eldorado Group announces today the full acquisition of online lending platform Direct Credit as part of its strategy to develop its “promising fintech business.” The transaction amounted to 1.3 billion rubles (nearly $18 million at the current exchange rate). Direct Credit services will be integrated into in the group’s fast-growing OneRetail platform, both online …

M.Video-Eldorado acquires online lending platform, aims to deploy fintech services “across the entire Russian retail market” Read More

Cédric Etlicher of Scaleo Medical: “Doing business with Russians spices life up!”

March 27, 2024

Based in Montpellier, France, Scaleo Medical is a developer and producer of medical equipment for hospital and home use. With a focus on oxygen therapy, respiratory orthopaedics and patient transfer tools, the company is now developing a brand-new concept around e-health devices. Cédric Etlicher, GM of Scaleo Medical in Russia, shared with FrenchTech his experience of doing business …

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US sanctions Russia-based cryptocurrency exchange over ransomware

September 27, 2021

The US Treasury Department has for the first time sanctioned cryptocurrency exchange, a Russian-based Suex that is registered in the Moscow City business compound and operates physical as well as virtual exchanges. Suex is allegedly responsible for over $480 million of unlawful operations, has been used for ransomware attacks and operated transfers to and from Finiko crypto ponzi scheme and Russia’s …

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Yandex teams up with top US funds to commercialize database management solutions

September 22, 2021

Earlier this week Yandex, the NASDAQ-listed Russian digital giant, announced the incorporation of ClickHouse as a legal entity. This spinoff aims to provide commercial impetus to what was so far essentially a community-led open source activity around distributed database management systems (DBMS).  Under plans, new commercial products will be developed — including, for example, a cloud-based version of DBMS …

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Russian Softline pursues international expansion in Baltic states, Belarus, Egypt

March 14, 2025

Softline, an international solution and service provider with Russian roots, is pursuing its international expansion with two deals announced this month, ahead of a potential London IPO. The group announced it acquired the licensing business of Squalio, an international data technology company, in the Baltic states (Estonia, Latvia and Lithuania) and Belarus Belarus and Estonia. Founded in 1997 in Latvia, Squalio has representative …

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Employees of Russian e-commerce leader Wildberries denounce pay shake-up

September 28, 2021

Russian e-commerce giant Wildberries on Tuesday defended its decision to pay employees of pickup points based on their speed, a policy that triggered discontent among workers. The company owned by Russia’s richest woman Tatyana Bakalchuk is one of the largest online marketplaces in the country and has enjoyed success across the former U.S.S.R. In a …

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The pursuit of a human face: Can interfaces make machine learning accessible?

September 24, 2021

The adoption of artificial intelligence (AI) and machine learning (ML) in various business processes is on the rise. This is evidenced, for example, by the steadily increasing media coverage, which indicates an increasing relevance of the technology. A growing number of application practices confirm the fact: the ICT.Moscow database, in 2021 alone, collected more than a …

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Global meal kit delivery giant HelloFresh invests in Russian counterpart Chefmarket

September 20, 2021

HelloFresh, the Germany-based international meal kit giant, has acquired an “approximately 10% stake” in its Russian counterpart Chefmarket. The amount of this investment (a capital injection) was not disclosed, but the companies mentioned a “single-digit million euro figure” in their announcement last week.  The deal is touted as “a strategic step for HelloFresh to tap into an emerging market with significant growth potential,” …

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