AliExpress Russia has just disclosed a series of interesting activity indicators — from audience, to sourcing, to logistics — confirming its leadership on the cross-border e-commerce segment and a growing traction on the domestic segment. By the end of 2020, the platform’s monthly audience reached some 29.1 million users (8.8 million daily). The platform does particularly … Local merchants now generate 25% of AliExpress Russia’s business Read More Read more ›
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Moscow-based IT company Hot-WiFi has announced its entry on the US market. The Russian startup offers businesses a guest WiFi hotspot network with marketing functions and data analytics services. This approach may increase the turnover of a coffee shop, for example, by 10% as shown by a business case in Moscow. Founded in 2012, Hot-WiFi has … Russian WiFi marketing startup makes first steps in US market Read More Read more ›
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Did you know Lithuania ranks #4 in the world for its fintech ecosystem; #11 for ease of doing business; and #1 for the speed of its public Wi-Fi? No wonder why this country is attracting a growing number of startups from across the world, including Eastern Europe. Its high quality of life, low cost of living and … Lithuania, Europe’s new startup hotspot, welcomes globally-minded entrepreneurs Read More Read more ›
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The Russian steel and mining giant Severstal plans to invest no less than 9.1 billion rubles ($122 million at the current exchange rate) “in IT and digital projects” this year. This year will see “a significant change [in] the company’s IT process model and organizational structure,” following the creation of “four new client teams responsible … Severstal puts $122 million in digital transformation this year, provides every employee with digital... Read more ›
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Yandex plans to launch a contactless payment service, challenging Apple Pay, the leader on the Russian market in this segment, as reported by VTimes. According to an internal document seen by VTimes, the users of ‘Yandex Pay’ will be able to save their bank details in the system to settle purchases. In an exchange with … A challenge to Apple Pay: Yandex reportedly developing contactless payment service Read More Read more ›
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StartupBlink has just ranked cities of the world by the number and quality of anti-covid innovative solutions. In the list, which includes 80 cities from 31 countries, Moscow ranks third — behind San Francisco and New York City, but ahead of such major cities as Toronto, Tel Aviv, London, Taipei and Paris. Among Moscow’s innovative … Moscow ranks #3 among cities of the world for anti-Covid innovations Read More Read more ›
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As Russian e-commerce, boosted by the pandemic, is breaking records, service and solution provider PIM Solutions has just received a capital injection of 100 million rubles ($1.3 million at today’s exchange rate) from business angel Dmitry Zobnin. The valuation of the company has reached 2 billion rubles (around $26 million), as Zobnin received a 5.13% … E-commerce provider secures $1.3 million from Russian business angel Read More Read more ›
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Yandex.Taxi, the taxi-hailing and food delivery joint venture of Yandex and Uber (formally called ‘MLU’), has completed the acquisition of the call centers and cargo business of Vezet Group. ‘Vezet’ means “it’s giving a ride” or “to be in luck” in Russian. Established in May 2017 as the result of the merger of two local companies, Vezet Group provides … Yandex.Taxi acquires key assets of Vezet Group in spite of... Read more ›
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As more and more global companies adopt corporate blockchain solutions, Norilsk Nickel (NorNickel), the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has announced it is joining the Responsible Sourcing Blockchain Network (RSBN), a network aimed at supporting responsible sourcing and production practices from mine to market. According to NorNickel, the move … NorNickel adopts blockchain for a more responsible supply chain... Read more ›
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Last week, a sizable deal in the field of neurosciences was announced in Russia. Wikium, an award-winning startup offering brain productivity exercises for office staff and students, was backed by an executive of the agro industry, Maxim Basov. Basov took control of the company, acquiring a 66% stake, as reported by Rusbase. The amount of the deal was not disclosed, but Rusbase … Russian neurotech startup Wikium raises millions to... Read more ›
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Russian game publisher Mundfish has secured a Series B funding round led by Tencent. Two existing investors — Moscow-based GEM Capital the investment vehicle of oil industry executive Anatoliy Paliy and Gaijin Entertainment’s founder Anton Yudintsev — also took part in the deal. The amount of the capital injection was not disclosed, but industry insiders told Russian business … Tencent backs Russian game studio to re-create robotized Soviet atmosphere Read... Read more ›
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Russian mobile phone operators are exploring the promising eSIM technology, but the government’s attempts to control and centralise the technology are likely to create hurdles. The communication ministry recently unveiled plans to create a storage system for user profiles of virtual mobile phone SIM cards based on eSIM technology, explaining it by the need to … Russia goes ahead with eSIM technology Read More Read more ›
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Russian Railways subsidiary RZD Technologies has partnered with Robin, a Moscow-based “leader in robotic intelligence,” to create the first Russian marketplace for robotic software solutions. Scheduled for launch in July this year, the platform is part of a program called ‘Cloud Factory of Software Robots,’ which received a 80 million grant from the Skolkovo Foundation (around $1.05 million at the current … Russian Railways to launch marketplace for robotic software... Read more ›
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Earlier this month in the Russian capital, air mobility startup Hoversurf started testing its Hover drone taxi, a flying vehicle that can transport passengers and cargo, ‘Popular Mechanics’ magazine reports. The drone taxi is the size of a standard sedan car (5 m x 1.6 m), says TASS news agency, citing the press service of the Moscow city … Moscow is testing flying taxis Read More Read more ›
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iHerb, one of the most successful international e-commerce companies in Russia, aims to take advantage of this country’s large tech talent pool through the creation of a local IT division. Under plans, the first local IT team will start activities in the course of this quarter. It will include programmers, mobile developers, software testers, web designers … iHerb to launch IT support in Russia Read More Read more ›
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Sber, Russia’s state-controlled financial and tech giant (previously known as Sberbank), announced today a new partnership to assert itself in the Russian e-commerce space. Just weeks after agreeing an alliance with Merlion, Sber signed a “memorandum of intent” with M.Video-Eldorado Group — a competitor of Merlion in the field of electronic goods — to “join hands in developing the … In a bid for e-commerce leadership, Sber agrees to invest... Read more ›
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MegaFon, a major Russian mobile phone operator, has increased its stake in video service Start to 50%, as reported by business daily Kommersant. The move follows the acquisition of 33.8% of the company, as announced in October 2020. The valuation of the startup — which was founded in 2017 — could reach or exceed 4 billion rubles (some … Russian telecom majors MegaFon and MTS invest in the startup space... Read more ›
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Elbrus Capital, a leading private equity firm focusing on Russia and neighboring countries, has attracted $260 million to launch its third fund. As reported by business daily Kommersant, the firm aims to raise for this fund $600 million in total until the end 2022, which will focus on Russian digital companies. The first deals are expected … Elbrus Capital attracts major international investors to invest in the Russian digital sphere... Read more ›
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Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia and other countries of the former Soviet Union. This column, by EWDN chief editor Adrien Henni, highlights the most notable industry facts and trends of the past year. These include, in particular: Major investments and alliances from the three Russian digital leaders: … 2020 in Eastern Europe: Battle of titans in Russia; revolution... Read more ›
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Citrix Systems announced today an agreement to acquire Wrike, a leader in SaaS collaborative work management space, for $2.25 billion in cash. The transaction, subject to regulatory approvals and other customary closing conditions, is expected to close in the first half of 2021. “The transaction unites leading workspace delivery platform with best-in-class SaaS work management solution, ushering in new era of employee … Andrew Filev, a geek from St. Petersburg,... Read more ›
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27.11.2024 18:43
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