Russian startup to receive up to $10 million to bring data science to farmers

November 11, 2020

Russian agritech startup IntTerra has agreed with local businessman Nikita Shashkin an investment plan of “up to $10 million” in several capital injections. The deal, agreed in early 2020, has just been revealed by the business daily Vedomosti, which cites exchanges with company founders Vitaly Buzu and Alexander Mikhailov.  Very few Russian agritech startups have …

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Technical experts and human rights activists challenge Moscow city’s QR coronavirus quarantine plans

November 12, 2020

What might have sounded like a dystopian scenario at the start of the year could become reality in Moscow very soon. Under a proposed system to fight the spread of the coronavirus, every trip outside — from buying essentials to walking the dog — will have to be approved in advance by the authorities. Mayor …

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International hackathon aims to fight pandemic and build more resilient societies (April 9-20)

April 3, 2020

As three billion people are locked down across the world, an international hackathon is calling innovators to “hack the future so we never go through this again.” Designed as an emergency response to the COVID-19 pandemic, Global Hack also aims to “build resilience post-pandemic.” The tracks are inspired by the UN sustainability goals that cover …

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Amid market boom, food delivery startup Elementaree raises $5 million from top Russian and French investors

November 12, 2020

The Russian food delivery startup Elementaree.ru has secured $5 million from the French vegetable giant Bonduelle and Russia’s sovereign wealth fund RDIF, confirming earlier announcements. An undisclosed individual investor also took part in the deal, the Russian media reported. The details of the transaction were not disclosed. Founded in 2013 by Olga Zinovieva and Silard …

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Moscow city’s new app for COVID-19 patients allows police to monitor home quarantine compliance

November 12, 2020

On April 2, the Moscow Mayor’s Office will launching a mobile app called “Social Monitoring” designed for coronavirus patients with mild symptoms recovering at home. According to the city, there are currently about 550 confirmed COVID-19 patients who are recuperating at home, instead of in a hospital. “This [app] isn’t intended for everyone’s use. I repeat: this is …

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Russian e-commerce major Ozon secures $150 million from local and US investors

April 5, 2020

Russian e-commerce major Ozon has just announced a $150 million round of financing, consolidating its position among the most well-funded local market players. The money is coming from three investors bringing equal contributions: the Moscow-based private equity firm Baring Vostok Capital Partners, the corporate fund Sistema_VC and a new investor, the US VC firm Princeville Capital.  The deal took the form of a …

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Mathematical modeling shows that full lockdown can prevent 100,000 COVID-19 deaths in Moscow

April 10, 2020

Moscow Mayor Sergey Sobyanin has placed stringent limits on the freedom of movement in Russia’s capital to stem the tide of the COVID-19 pandemic. To model what would have happened if he had not taken those measures and what could happen now that he has, we turned to Moscow State University Associate Professor Mikhail Tamm. The …

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Rocketbank

Mobile banking service Rocketbank to shut down after eight years of eventful life

March 27, 2020

Russian payment major Qiwi will shut down the mobile banking service Rocketbank by the end of this year, having failed to find an acquirer for this asset.  Qiwi’s financial report reveals that Rocketbank’s net loss amounted to 684 million last year (slightly more than $10 million at last year’s exchange rate), up 17% from 2018. The …

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Russians urged to reject cash to slow coronavirus spread

April 9, 2020

Russia has urged consumers and businesses to use digital payments rather than cash in an effort to slow the spread of the coronavirus and told banks to limit ruble notes in circulation. Consumer safety watchdog Rospotrebnadzor this month encouraged Russians to move to cashless payments, citing World Health Organization guidelines stating that a virus can …

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Russian Internet majors join government COVID-19 response initiative

April 6, 2020

Last week the Russia’s sovereign fund RDIF, the Russian Union of Industrialists and Entrepreneurs (RUIE), as well as Internet majors Mail.ru Group and Yandex teamed up with the authorities to launch the ‘Coronavirus (COVID-19) Response Alliance.’ The Alliance aims to “ensure the rapid testing of people using the best available technology as well as the industrial security …

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Russian PM orders to design a national warning system based on COVID-19 patients’ geolocation

April 6, 2020

[Updated March 25] On Monday, March 23, Russia’s Prime Minister Mikhail Mishustin instructed the communications ministry to “organize the creation of a system that can track people who have come into contact with patients infected by the new coronavirus.” Based on individual geolocation data from telecom operators, the system should also notify users about their …

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Ozon caps prices for the most sought-after goods to prevent gouging

March 24, 2020

As the Russian government called retailers to keep their prices stable in spite of spiking demand for certain goods, Ozon – a top online retailer and marketplace – announced Friday that it was capping the prices of essential goods to protect customers’ interests.  Even though Russia had only 367 confirmed COVID-19 cases as of March …

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