Eastern Europe / Tech

Sberbank's joint project with Mail.ru is in limbo

Vladimir Kozlov in Moscow November 24, 2020

Following the high-profile divorce between Russia's largest, state-owned lender Sberbank and tech giant Yandex earlier this year, the future of the bank's partnership with another local tech company, Mail.ru Group, is now also in danger of collapsing

Russian police unveil $720mn AI-focused digitalisation scheme

Vladimir Kozlov in Moscow November 24, 2020

Russia's Interior Ministry has presented to the government a RUB55bn ($720mn) digital transformation programme that has a heavy focus on artificial intelligence (AI).

Ex-official’s electric vehicle start-up valued at $5.4bn

bne IntelliNews November 23, 2020

The UK-based Arrival electric vehicle start-up, founded by Russian businessman and ex-Deputy Minister of Communications Denis Sverdlov, announced this week that it intends to IPO on Nadaq with a $5.4bn valuation, reports The Bell.

After raising $2.1mn, this Russian truck driving startup wants to become a unicorn

East West Digital News in Moscow November 18, 2020

Fura, a Moscow-based startup offering high-tech services to truck drivers, has raised 160mn rubles ($2.1mn at the current exchange rate) in a Series A round led by an unnamed Swiss-Russian fund.

Twice as expensive as Elon Musk’s Starlink, Russia’s satellite Internet project still awaits state funding

East West Digital News in Moscow November 18, 2020

Russia has plans to develop its own cluster of at least 500 “next-generation, multi-spectrum satellites,” starting from next year that will provide internet across the country's vast territory

Russian petrochemical major Sibur spearheads digital transformation

East West Digital News in Moscow November 12, 2020

Russian petrochemical major Sibur told East-West Digital News it has developed a technology which allows high-precision modelling of physicochemical processes in petrochemical production.

MegaFon invests in fast-growing challenger on Russian online video market

East West Digital News in Moscow November 12, 2020

MegaFon, a major Russian mobile phone operator, is to acquire 33.8% of Digital Media Holding LLC (DMH), the parent company of the Start video service.

Russian petrochemical major Sibur spearheads digital transformation

East West Digital News in Moscow November 12, 2020

Russian petrochemical major Sibur told East-West Digital News it has developed a technology which allows high-precision modeling of physicochemical processes in petrochemical production.

Russia sharpens knives against cybercrime

East West Digital News in Moscow November 12, 2020

A center for combating cybercrimes, telephone spam and phishing will be created in Russia as part of a government program for the digital economy

Banki.ru founders sell their stake to settle conflict with US investor

East West Digital News in Moscow November 12, 2020

An investor consortium led by Russian private equity firms Elbrus Capital and Winter Capital has acquired 60% of Banki.ru, a leading bank and insurance marketplace.

MegaFon invests in fast-growing challenger on Russian online video market

East West Digital News in Moscow November 12, 2020

MegaFon, a major Russian mobile phone operator, is to acquire 33.8% of Digital Media Holding LLC (DMH), the parent company of the Start video service

Russian sovereign fund RDIF invests in telemedicine platform, targets 100mn potential users

East West Digital News in Moscow November 12, 2020

The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) is investing in a telemedicine platform developed by Digital Medical Services

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