The Far East and Baikal Regional Development Fund, which was set up a year ago, may be increased considerably, the innovation news portal Venture-News.ru reported last week. Currently, its authorized capital is $15.5 million; but it may soon be boosted to as much as $3 billion or more. The idea came from Russian President Vladimir …
Far East and Baikal Regional Development Fund to be bumped up by 200 times Read More
KupiKupon, one of Russia’s leading daily deal sites, is launching ‘KupiKupon Poisk,’ a web interface that displays discounts, bonuses and other special offers that have been made available by third parties in a dozen Russian cities. As much as $3 million has already been invested in the project, the company’s General Manager Komil Ruzaev revealed …
Eldorado, a leading home appliance and consumer electronics retailer, is planning to open up to 200 small outlets next year for electronic ordering and delivery. As the company’s press service explained to Russian business daily Kommersant, these outlets of less than 100 sq. m. will be deployed in locations not suited for standard hypermarkets – …
Retailers downsize offline outlets for online sales Read More
Bright Capital Digital has injected $2.5 million into Auctionata, a German online auction site specializing in antiquarian items. The news was reported by Russian business daily Kommersant, based on an exchange last week with Bright Capital Investment Director Vadim Tarasov. Established in 2011, Auctionata claims to feature “the first live auction in the history of …
German auction site secures $2.5 million from Russia’s Bright Capital Read More
Evernote, a California-headquatered company founded by a Russian-American team in 2007, has just completed a $85 million round, CEO Phil Libin announced on his blog yesterday. The round was led by London-based AGC Equity Partners/m8 Capital with participation from Valiant Capital Partners and existing investors. Seventy five percent of this money comes in the form of …
Evernote raises $85 million with “no exit strategy” Read More
This week, Megafon raised $1.7 billion by trading approximately 15% of its shares on the London and Moscow stock exchanges simultaneously. Although the order book for the IPO was oversubscribed, the Russian telecom operator priced each share at $20, at the bottom of the $20-$25 range, placing the company’s total valuation at $11.1 billion. Putting …
Printio.ru, a Moscow-based startup offering personalized printing services, has just raised $700,000 from a total of 18 Russian and Western business angels. The terms of the deal have not been disclosed, but Printio’s co-founder Aleksandr Shamis told East-West Digital News that the founders got a “good valuation” and have kept a controlling stake. Launched officially …
Tricolor TV, Russia’s leading pay TV operator with 8.5 million paid subscribers, claims half a million HDTV subscribers, with optimistic plans to reach 3.9 million subscribers by next year and 7 million by 2015, the Russian tech news portal Digit.ru reported last week. Aiming to become the leading European HD provider, in March of 2012 …
Tricolor affirms leadership on pay TV market, attempts to attract investment from VTB Read More
The Russian IPTV service Beeline TV has added 16 new channels, 11 of which are in HD, to its offer. As a result, the service now provides over 200 channels, of which 33 are in HD. The new channels are initially being made available in Moscow and St Petersburg, as well as the Moscow and …
A group of forty Russian scientists has received a week of on-the-job training in the commercialization of hi tech projects at Israel’s Ariel University, the innovation news portal Venture Business News reported last week. The university, which is located in the Israeli settlement of Ariel in the West Bank, was upgraded just two months ago …
Russians learn tech monetization in Israeli settlement Read More
While venture funds are springing up in Moscow, one small fund in particular should not go unnoticed. Established just two months ago, Cloud4Auto focuses specifically on automotive technologies – a unique case in the world, the Chairman of the fund’s Supervisory Board, Innokenty Belotsky, told East West Digital News. “Cars are a very important part …
New seed fund helps startups “change the way cars are sold and serviced” Read More
Yesterday, RVC, the state-owned fund of funds dedicated to innovation, announced a new program to complement business angel investment in Russian startups at very early stages. The fund’s co-investment will amount to up to 3 million rubles (approximately $100,000), covering from 25% to 75% of the rounds of funding. Business angels are eligible to submit co-investment …
State-owned fund to complement business angel financing Read More
