$225mn funding values Romanian RPA unicorn UiPath at over $10bn

Iulian Ernst in Bucharest July 14, 2020

The funding was accelerated by the COVID-19 crisis, during which demand for software and automation robots exploded, said co-founder Daniel Dines.

AliExpress sets ambitious goals in Russia, IPO possible

Vadim Dumesh in Paris July 13, 2020

AliExpress Russia is aiming to reach $10bn gross merchandise volume by 2022-2023, and has not ruled out a future IPO.

ING Bank launches fashion marketplace in Romania

bne IntelliNews July 9, 2020

ING takes on Romanian online retailers Fashion Days and, but plans international expansion for its DealWise platform.

Ucom tries to block Team’s acquisition of Veon Armenia

bne IntelliNews July 8, 2020

Telco Ucom is seeking to block an attempt by rival Team – set up earlier this year by two of its former executives – to buy Veon Armenia.

Kazakhstan launches mobile app to combat counterfeit and illegal alcohol sales

bne IntelliNews July 8, 2020

e-Sapa app based on tracker for fuel sales developed as industry association says around 40% of alcohol sold in Kazakhstan is counterfeit or illegal.

Microsoft sets up new development centre in Romania

bne IntelliNews July 7, 2020

The Movial office in Iasi will become the fourth technology development centre in the region for Microsoft.

Bank of Lithuania to become first eurozone bank to issue digital coin

bne IntelliNews July 2, 2020

The Lithuanian central bank was one of many to be looking at how they might issue their own digital currencies as the use of cash declines – a process speeded up by the COVID-19 pandemic.

InoBat Auto raises €10mn from CEZ for EV battery facility

bne IntelIiNews July 2, 2020

Funding will be used for InoBat Auto’s €100mn EV battery R&D facility and production line as it prepares to become the first European supplier of customised EV batteries.

Austria’s S&T buys Slovenian telecoms equipment company Iskratel

bne IntelliNews July 1, 2020

S&T says Iskratel's work in the IIoT software and 5G areas will strengthen its product portfolio.

Payment platform Paysera enters Kosovan market

bne IntelliNews June 30, 2020

Paysera Kosovo obtains the country's first Electronic Money Institution (EMI) licence, plans to cut cost of money transfers between Kosovo and EU countries.

Shoppers in Belarus get access to New Zealand's coronavirus tracking app

bne IntelliNews June 25, 2020

As businesses re-open their doors across Belarus, they have help from a contact-tracing app based on New Zealand’s successful coronavirus (COVID-19) Tracer app, Kontakkt Space, it was announced in a press release on June 24.

Romanian online retailer eMAG begins expansion in Hungary

bne IntelliNews June 25, 2020

Romania's largest online retailer plans to open three more showrooms in Hungary and reach a turnover of €300mn in the country.

Czech computer games companies posted 20% increase in sales in 2019

bne IntelliNews June 24, 2020

The gaming industry in the Czech Republic employs more than 1,750 people, and dwarfs the country's film and television sector.

Telegram to create proxies to work in Iran

bne IntelIiNews June 22, 2020

Encrypted messaging app is hindered in Islamic Republic by official attempts to block it. Co-founder Pavel Durov says he refused to share user data with intelligence services.

Slovak investment fund Sandberg Capital bought stake in Czechia's fastest-growing cloud service company

bne IntelliNews June 21, 2020

Sandberg's investment manager Jakub Krajcovic says he believes the business area has "huge potential" and the fund plans to focus on it more deeply.

Romanian unicorn UiPath expects $10bn valuation in new financing round

bne IntelliNews June 19, 2020

Enterprise robotic process automation software company is reportedly preparing a new round of financing that would increase its market value to over $10bn.

Russia's IT industry faces severe brain drain

Vladimir Kozlov in Moscow June 17, 2020

The Russian IT industry will experience a severe brain drain in the wake of the coronavirus (COVID-19) pandemic and ensuing economic crisis, unless the government introduces support measures for the sector, major local IT companies warn.

Russia to dramatically hike fines for data theft

Vladimir Kozlov in Moscow June 17, 2020

Hackers are preying on Russians' personal data and the number of crimes has ballooned. The government is responding with a dramatic hike to the fines for stealing information, but some experts say the proposed measures are too harsh

Russian deputies introduce a bill to un-ban the Telegram messaging service

bne IntelliNews June 16, 2020

Russian Duma deputies from the minority fraction Fair Russia have conceded defeat to reality and have introduced a bill to un-ban the popular messaging service Telegram that belongs to Russian tech whizz-kid Pavel Durov.

EIB loans Belgian tech corp Umicore €125mn for battery components factory in Poland

bne IntelliNews June 16, 2020

Poland has long been an important location for various automotive industries because of its still relatively cheap yet skilled labour as well as capacity for efficient logistics to markets such as Germany.