Russia’s National Association for Innovation and IT Development (NAIRIT) has put together a Regional Innovation Ranking for 2011. The study was aimed at highlighting the Russian regions showing the most initiative in promoting applied science and innovation. According to NAIRIT, for the second year running Moscow ranked as the undisputed number one in 2011 among …
Intel Software, an Intel subsidiary and a new Skolkovo resident, has announced plans to develop an intelligent automotive system supported by ERA-GLONASS-based open software platform services. The endeavor calls for the development of a hardware-software solution integrating ERA-GLONASS, a real-time satellite-based infrastructure service that takes full advantage of Russia’s GLONASS satellite positioning system and was …
Intel joins Russia’s ERA-GLONASS crusade for road safety Read More
Just days after its investment in India was revealed, Ru-Net, a major Russian venture fund, is reported to have acquired a stake in Lidyana, a Turkish online jewelry retailer. The fund’s investment amounts to “a few million dollars,” for an estimated 25% stake, according to a source close to the deal cited by Russian business …
Three state-owned financial organizations – the Russian Venture Company (RVC), Vnesheconombank (VEB) and the Fund of Infrastructure and Educational Programs of Rusnano – have joined with the International Bank for Reconstruction and Development (IBRD) in signing a memorandum of understanding to create an online database for innovative projects across the country, the RIA Novosti agency …
Russia’s largest telecoms are launching a new multiscreen service later this year, the Russian business daily Vedomosti reported last week. The project is expected to enable users to access their favorite TV channels from a TV set, a desktop PC or a mobile gadget. The leader in this race for broader markets is Rostelecom, which …
Demonstrating the growing importance of the Russian market, eBay is opening a representative office and subsidiary in Russia under the name eBay Marketplaces. The US giant will be represented by Vladimir Dolgov, previously Country Manager for Google and a former General Manager at Ozon.ru, a leading online retailer. The news was reported by the Russian business …
KupiVip Holding, the owner of the largest online fashion shopping club in Russia, has raised $38 million in a Series D funding deal led by Intel Capital, with new investment from Acton Capital Partners and the European Bank of Reconstruction and Development. Historic investors Accel Partners and Balderton Capital also participated in the round. KupiVip’s …
KupiVip raises $38 million from leading Western funds Read More
MTS, a leading mobile operator and telecom provider in Russia and the CIS, is considering acquisition opportunities among European assets that have suffered in the crisis, said MTS investor relations officer Josh Tulgan in an exchange with Bloomberg yesterday. “You can characterize some assets in Europe as borderline distressed. Obviously, we look at opportunities,” though …
MallStreet.ru, a Russian online retailer that until recently had remained under the radar, has just secured $1 million from investors in its second round of financing in less than a year. Neither the site’s valuation nor the investors’ identity were disclosed, but Mallstreet CEO Dmitry Shashkin told East-West Digital News that French business angel Fabrice …
Twelve major Russian online retailers have founded the ‘Association of Internet Commerce Companies’ (AKIT in Russian), with the aim of combating market opacity and distortions as well as of “guaranteeing users’ security and trust.” The association has opened hostilities against ‘gray’ e-retailers, those who avoid taxes in order to sell cheaper and maximize their profits. …
New online retailer association at war with gray commerce and marketplace’s influence Read More
What is the first thing you normally do when you want to buy, say, an LCD TV over the Internet? Let me guess: you go to Russia’s leading online marketplace, Yandex Market, and look for the desired product – then buy it wherever it’s cheapest. Here is the paradox: the best offers usually come not …
On June 25th, Moscow will start its own Plug and Play Moscow Tech Center and hold the Startup Fight which will shoot its winner to the Silicon Valley for astonishing three-months acceleration internship. Plug and Play is one of the most famous global accelerators from Silicon Valley, specializing in high-tech companies. In addition to cutting …
