Eastern Europe / Tech

Swedish, Malaysian and French investors back Russian startups

EWDN in Moscow September 24, 2020

Russian startup NaPopravku (“for cure”), an online service for medical appointments, has raised $2.25mn for further domestic expansion and mobile developments, reported industry publication Rusbase

Fort Ross Venture Capital fund aims to invest $100mn in Russia and Eastern Europe tech

EWDN in Moscow September 24, 2020

Just weeks after The Untitled announced plans to launch a new venture fund for Russia and Eastern Europe, Fort Ross Ventures, another Russia-connected VC firm, shared news about a similar initiative

My.Games invests in Russian-founded studio Hypemasters

EWDN in Moscow September 24, 2020

My.Games Venture Capital (MGVC), an investment firm affiliated to Mail.ru Group, and Aii Corporation, a Finnish VC firm, have teamed up to invest in a US-headquartered mobile games studio called Hypemasters

Swedish, Malaysian and French investors back Russian startups

EWDN in Moscow September 24, 2020

Russian startup NaPopravku (“for cure”), an online service for medical appointments, has raised $2.25mn for further domestic expansion and mobile developments, reported industry publication Rusbase

Average order value on AliExpress Russia doubles in 2020

EWDN in Moscow September 24, 2020

During the first eight months of this year, the average ticket on AliExpress Russia almost doubled from the previous year to RUB1,500 ($20-$23)

Russian App to make sure your hands are clean

Ben Aris in Berlin September 22, 2020

A Russian team of software engineers have developed an App to make sure employees and schoolchildren clean their hands properly

Russian online giant Yandex mulls financial ecosystem investments

Vladimir Kozlov in Moscow September 22, 2020

The Russian online giant Yandex is considering venturing onto the financial services terrain, while also restructuring its marketplace business in the wake of a divorce with the state-run lender Sberbank.

Belarus' IT workers exit the country

Vladimir Kozlov in Moscow September 22, 2020

A brutal crackdown on Belarusian protesters following the August 9 presidential election, rigged in favour of incumbent Alexander Lukashenko, has prompted a massive exodus of local IT companies and individual IT professionals.

Target Global bets on Russo-Estonian startup “to disrupt crypto payments”.

bne IntelliNews September 15, 2020

Mercuryo.io, a Russian-founded startup based in Estonia, announced in the first week of September the completion of its first round of funding, having received €2.5mn from Target Global

KYC start-up Sumsub secures $6mn from Russian investors

bne IntelliNews September 15, 2020

Sumsub, an identity verification start-up with Russian roots, announced in the first week of September the completion of a $6mn round of fund-raising, reports East-West Digital News (EWDN).

Kazakhstan headhunts Belarusian IT developers, in vain so far

Almaz Kumenov for Eurasianet September 7, 2020

Astana Hub hoping political unrest could tempt some specialists into coming their way.

Ukraine aims to recruit Belarus' IT workers

bne IntelliNews September 7, 2020

Ukraine’s Digital Transformation Ministry has opened a special web portal for Belarusian IT specialists who want to move to Ukraine and has hired Denis Aleinikov, who helped set up the famous IT park in Minsk

Skolkovo suspends key grant programmes until next year due to crisis cuts

EWDN in Moscow September 4, 2020

The Skolkovo Foundation, Russia’s main tech hub with more than 2,400 resident start-ups, announced in the middle of July the temporary suspension of key grant programmes until December 31, 2020, reports East-West Digital News (EWDN).

Lukashenko’s crackdown leads to exodus of IT professionals

Ben Aris in Berlin September 4, 2020

The restart of Belarus' self-appointed President Alexander Lukashenko's brutal crackdown on protesters has led to a growing exodus of IT professionals that will destroy one of the country’s most successful sectors.

Skolkovo suspends key grant programs until next year due to crisis cuts

EWDN in Moscow September 4, 2020

The Skolkovo Foundation, Russia’s main tech hub with more than 2,400 resident startups, announced in the middle of July the temporary suspension of key grant programs until December 31, 2020, reports East-West Digital News (EWDN).

Roman Abramovich backs game publisher to design “fun, thrilling, and engaging entertainment experiences”

EWDN in Moscow September 4, 2020

Norma Investment, a venture firm affiliated to Russian billionaire Roman Abramovich, has taken part in a $20mn round of funding for Russian game publisher 110 Industries

Rusnano to invest more than $50mn in digital technologies

EWDN in Moscow September 4, 2020

Rusnano, the Russian state-controlled nanotechnology corporation, has created a RUB4bn fund to invest in digital technologies

A Russian-born startup based in Singapore uses AI to penetrate the mysteries of human longevity

EWDN in Moscow September 4, 2020

Can artificial intelligence and machine learning help mankind address diseases related to ageing, and delay mortality? Gero, a Singaporean company with Russian roots, believes so

Russian Post unveils $21mn digitization scheme

Vladimir Kozlov in Moscow September 4, 2020

Russian Post, the country's state-run postal service operator, has unveiled a RUB1.5bn ($21mn) modernisation programme, under which new digital projects will be launched and the IT department will double in the number of employees.

Russia's national program for digital economy stumbles

Vladimir Kozlov in Moscow September 4, 2020

Russia's ambitious programme for digitalization of the economy is running behind schedule, and progress in several crucial areas have been slow.

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