Report: South Korean startups revitalized with $3.6 billion injected in 2020

April 9, 2021

Startup Recipe, a leading South Korean startup media and a partner of East-West Digital News, has just released its 2020 Startup Investment Report. The report contains key facts, numbers and trends on this country’s startup investment and ecosystem, as well as information from the concerned startups and investment companies. The South Korean startup ecosystem was …

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Love vs. AI, women in tech, American dream… Hot tech topics discussed at top regional conference (online event, May 12-14)

April 27, 2021

On May 12-14 EMERGE, a top tech conference covering Eastern Europe and Central Asia, will hold its third edition in an online format and in English language (more information and tickets here).  With participation from high-level speakers from the region and beyond, the program will cover a variety of topics such as: No planet B: how …

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AliExpress Russia invests in regional marketplace KazanExpress

February 7, 2022

AliExpress Russia, a leading cross-border and domestic e-commerce platform in Russia, has invested in a major regional e-commerce company, KazanExpress, acquiring a 30% stake. The amount of the transaction was not disclosed but, in an exchange with Kommersant, KazanExpress co-owner Linar Khusnullin refered to an amount of “several billions of rubles” (dozens of millions of …

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Two startup entrepreneurs from Russia aim to “revolutionize SME finance” in Germany

March 22, 2021

Earlier this month in Germany, a Russian-founded startup  launched a “4-in-1 finance platform” for SMBs — a solution that automates admin and accounting processes.  The startup, dubbed Monite, also announced the completion of a €1.1 million pre-seed funding round, which involved no less than 10 investors. Among them are Berlin-based signals Venture Capital, Zurich-based Tomahawk VC, Turkish fund InVentures …

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Russia plans to require foreign IT companies to open local offices and pay taxes

March 19, 2021

The Russian government plans to create a “digital residency” system for foreign IT companies. According to this initiative, Russia will adopt legislation by the end of 2021 that will oblige foreign companies with a client base of more than 100,000–500,000 Russian users to register legal entities in the country and pay taxes. Foreign nationals will …

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Russian-made apps on electronic devices: Apple prepares to comply with new legal requirements

March 17, 2021

Starting April 1, 2021, tech device manufacturers will be required to pre-install Russian-made, government-approved applications and software onto new devices sold on Russian soil. Dubbed “anti-Apple law,” this legislation was adopted in late 2019 as part of the Putin administration’s “sovereign Internet” strategy.  While the law did not specify what devices new electronic devices are …

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Russian tip automation startup acquired by major bank 18 months after launch

March 17, 2021

Alfa-Bank is in the process of acquiring Netmonet, a startup that uses QR codes to automate tips in restaurants, cafés and beauty salons. In an agreement signed last month, the Russian lender is committed to acquire the company fully for an undisclosed amount.  Forbes Russia has estimated Netmonet’s valuation at approximately $4 million — a sizeable amount …

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Backed by a software giant, this Russian smart transportation provider eyes foreign markets

March 19, 2021

Softline Venture Partners, the venture arm of Russian software giant Softline, has invested in T-1 Group,  a provider of B2B and B2C telematics solutions and navigation technologies. No details of the transaction were disclosed.  “The acquisition of a stake in T-1 Group is an investment in the rapid growth of the transport telematics market, which is simply …

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My.Games invests in Dutch Espresso Publishing to boost hypercasual games

April 6, 2021

My.Games, a branch of LSE-listed Mail.ru Group, has invested in Espresso Publishing to boost its hypercasual games business. Espresso Publishing creates hypercasual mobile games, which are short but viral and can last a minute or less. The company is based in Amsterdam and headed by Zahar Serebryannikov. My.Games is taking a minority stake in the publisher, with an option …

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Russia’s pursuit of Internet sovereignty backfires, again

March 16, 2021

A Kremlin attempt to slow down Twitter caused government websites to crash and raised new questions about its ambitious plans to regulate the internet. Wednesday last week was supposed to be a big day for Andrei Lipov, a 51-year-old Russian top official trusted with the Kremlin’s most sensitive internet initiatives. A not very successful internet …

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Tinkoff launches AI-powered voice assistant on Clubhouse

March 13, 2021

Tinkoff, the Russian digital banking leader, has integrated its AI-powered voice assistant ‘Oleg’ into Clubhouse — claiming to be the first one in the world to do so. The capabilities of the voice assistant as a “a full-fledged Clubhouse user” are described as follows:  ‘Oleg’ can use its text-to-speech and speech-to-text capabilities (Tinkoff VoiceKit) in real time to “help …

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Mail.Ru and AliExpress pursue e-commerce integration through multi-platform merchant interface

March 15, 2021

Earlier this month Mail.ru Group and AliExpress Russia achieved yet another step in their e-commerce integration plans with the launch of Multimarket. This single interface allows merchants to manage their sales simultaneously via the AliExpress Russia site and Mail.Ru’s properties — including social networks VK and Odnoklassniki, and classifieds platform Youla. Registered merchants can place …

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