OKS Group to invest $2.2 million in marketplace support service Upmarket

November 10, 2020

Upmarket, a service that helps e-merchants trade on marketplace, has agreed a 170 million ruble ($2.2 million) investment plan with OKS Group. The investor may get a 31% stake in the company by mid-2021, reports business daily Kommersant.  From content creation, to marketing strategy, to logistic support, Upmarket helps merchants place goods on three of Russia’s …

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Banki.ru founders sell their stake to settle conflict with US investor

November 24, 2020

An investor consortium led by Russian private equity firms Elbrus Capital and Winter Capital (the latter has Russian billionaire Vladimir Potanin among its limited partners) has acquired 60% of Banki.ru, a leading bank and insurance marketplace. The investors are buying all the shares of company founders Philipp and Kirill Ilyin-Adaev and Elena Ishcheeva for an undisclosed amount. Russia Partners, an …

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Russian petrochemical major Sibur spearheads digital transformation

November 12, 2020

Russian petrochemical major Sibur told East-West Digital News it has developed a technology which allows high-precision modeling of physicochemical processes in petrochemical production. This technology is unique for Russia, says the company.  A pilot project was launched at Tomskneftekhim in Tomsk, Siberia, where a digital model of a high-pressure polyethylene reactor made it possible to significantly optimize …

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EU-backed climate conference to showcase 20 greentech startups (Dec. 1-3)

November 18, 2020

Green technologies and innovations from high potential startups are key contributors to the global effort on reaching ambitious climate targets. With this in mind, the EU Delegation to Russia wants to showcase EU and Russian startups that develop and promote green technologies and innovation. A pitching competition is being organised in the run-up to the EU-Russia Climate Conference, …

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Russian sovereign fund RDIF invests in telemedicine platform, targets 100 million potential users

January 20, 2021

The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) is investing in a telemedicine platform developed by Digital Medical Services (a subsidiary of state corporations Rostelecom and Rostec) and online consultation provider Doctis.  While Digital Medical Services will provide expert and methodological support to meet public healthcare standards, Doctis will contribute its information system to the joint …

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Russia sharpens knives against cybercrime

November 5, 2020

A center for combating cybercrimes, telephone spam and phishing will be created in Russia as part of a government program for the digital economy, the TASS news agency reported earlier this week, citing Minister of Digital Development, Communications and Mass Media Maksut Shadayev. In an attempt to exclude even the smallest external risks of disruption, the ministry …

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MegaFon invests in fast-growing challenger on Russian online video market

November 5, 2020

MegaFon, a major Russian mobile phone operator, is to acquire 33.8% of Digital Media Holding LLC (DMH), the parent company of the Start video service. The amount of the deal was not disclosed, but RBC heard from industry analysts that MegaFon’s stake might have been valued between 1.5 and 2.7 billion rubles (from $19 million to $34 …

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Ozon files for NASDAQ IPO, aims to raise $500 million

November 6, 2020

Ozon, Russia’s leading multi-category e-commerce company, announced yesterday it has filed for an initial public offering (IPO) in the United States (see prospectus), one month after starting the registration procedure. The company intends to list its American depositary shares (ADS) on the NASDAQ. No pricing terms were disclosed, but Reuters reported that Ozon “could raise at least …

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Moscow City’s AI-powered traffic camera systems detect drivers without seatbelts

November 3, 2020

Moscow has installed traffic cameras that are able to detect when drivers are not wearing their seatbelts or are using their phones while behind the wheel. “Cases of rule violations will be precisely established by these certified photo and video systems, with the help of neural networks and Big Data,” the city authorities announced via …

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The Russian retail digital revolution of the X5 supermarket chain

November 2, 2020

It’s been on the agenda for years, but now the Russian economy is finally being rapidly digitalised. The coronacrisis has accelerated the process after everyone was locked up at home in the summer and forced to buy their groceries online, but the pandemic didn’t create a new trend; it only made the existing ones move faster. …

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Mail.ru Group sells mapping and navigation service Maps.me as “non-core asset”

November 2, 2020

Mail.ru Group, the LSE-listed Russian Internet giant, has just announced the completion of the sale MAPS.ME to Daegu Limited, a part of Parity.com Group. All company shares have been transferred for 1.56 billion (some $20 million at today’s exchange rate).  Mail.Ru presents the move as part of its “strategy to focus on development of core assets where …

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