Eastern Europe / Tech

VB Partners buys Petrovax

Theo Normanton in London October 3, 2022

Interros will divest 100% of its stake in biopharmaceuticals company Petrovax, according to a statement by the company.

US venture firm launches new fund with exclusive Ukrainian focus

East West Digital News in Kyiv September 25, 2022

Earlier this month ffVC, an international VC firm comprised of several funds in the US and Europe, announced the launch of a new fund exclusively dedicated to Ukrainian founders and startups.

Top Russian e-scooter service aims to raise $167mn on Moscow Exchange

East West Digital News in Moscow September 25, 2022

Russian kick-sharing service Whoosh intends to go public on the Moscow Exchange this or next year.

Russia’s e-commerce company Ozon keeps 2022 80% turnover growth forecast, but losses up 19% in 6M22

bne IntelliNews August 24, 2022

One of Russia’s big three e-commerce company says it is sticking with its forecast for turnover growth of 80% this year, despite the sanctions and economic slowdown.

Yandex exits the news aggregating business in Russia

Theo Normanton in London August 23, 2022

Tech major Yandex announces its exit from the news aggregation business through a deal to offload Yandex.news and Yandex.zen to internet rival VK in return for grocery delivery service Delivery Club. The deal will help Yandex out of a tricky bind.

Russian e-commerce turnover up 1.5-fold in 1H22

bne IntelliNews August 11, 2022

Following the imposition of sanctions and the voluntary withdrawal of hundreds of international brands, Russians have turned to e-commerce sites to buy hard-to-find foreign brands.

Business Insider: Western tech majors have tested or used controversial Russian face recognition technology

Adrien Henni in Moscow for East West Digital News August 5, 2022

According to a report published last week by US publication Business Insider, a range of Western tech firms are users of FindFace, a controversial face recognition technology developed by Russian startup NtechLab.

From 4G to 6G: How Russia seeks to develop mobile networks amid shortages of domestic frequency and foreign equipment

East West Digital News in Moscow August 5, 2022

The Russian government intends to spend more than RUB30bn ($375mn at the pre-war exchange rate, $500mn at the current rate) on an R&D programme to deploy 6G until 2025.

Should I stay or go for founder of Russian internet major Yandex

bne IntelliNews August 1, 2022

The founder of Russian internet major Yandex, Arkady Volozh, could agree to a new shareholder and management structure for the company in exchange for the Kremlin’s permission to develop some of Yandex assets independently abroad

Belarus’ IT sector Part II – War and Peace with the IT sphere

bne IntelliNews July 15, 2022

As the growth of Belarus’ IT sector is facing stagnation, it may find itself in the middle of the Belarusian regime’s security and military apparatuses’ goals to increase their defensive and offensive capabilities in cyberspace.

Belarus’ IT sector Part I – Growth resilience despite tech-worker exodus

bne IntelliNews July 14, 2022

While many Belarusian IT workers already began leaving the country after the wave of political repression that followed Belarus’ 2020 presidential elections, Russia’s invasion of Ukraine initiated a second wave of fleeing IT workers.

VK set to become Russia’s tech leader as IT crisis shakes up sector

bne IntelIiNews July 12, 2022

While competitors are hit by sanctions, banned by the communications watchdog, or offload assets due to a worsening tech crisis, Russia's biggest social network is on a buying streak, consolidating its command of the sector.

Russia’s Rostec develops blockchain system as “real alternative” to SWIFT

bne IntelliNews July 7, 2022

Rostec, a state corporation that comprises more than 700 enterprises in the fields of defence and technology, announced in June it has developed a blockchain platform to provide a “real alternative to SWIFT in international settlements.”