Russian-founded industrial AI startup Conundrum secures $1.5 million from Speedinvest

UK-based industrial AI startup with Russian roots Conundrum has raised $1.5 million in funding from Speedinvest Industry. Conundrum AI applies deep learning and automated machine learning techniques to help industrial customers predict equipment failures and decrease downtime they can cause. It also builds so-called “digital twins,” precise digital models of enterprise physical equipment that can […]

Baring Vostok founder under arrest: The Russian tech investment community under shock

Editor’s note: This article from East-West Digital News was syndicated with permission. US citizen Michael Calvey, a figure of the Russian private equity scene, was detained Friday in Moscow as part of a large-scale fraud investigation. The news has put the Russian investor and tech community under shock. Calvey is the founder of Baring Vostok Capital Partners, one of […]

From Yandex to Mail.Ru: a closer look at what 2018 brought for tech giants, investments and more in Eastern Europe and Central Asia

Editor’s note: This article from East-West Digital News penned by Adrien Henni was syndicated with permission. Tech investment volumes Russia and its Eastern European neighbors were modest last year, if compared with the Chinese, US or Western European markets. However, the year was marked by giant corporate deals involving international players while a series of […]

Swiss-headquartered data management company Veeam raises a whopping $500 million from Insight VP

Swiss-headquartered Veeam, a provider of data backup solutions for enterprise customers, has raised a monster of a round of $500 million led by Insight Venture Partners, with participation from Canada Pension Plan Investment Board (CPPIB). This is the first publicly announced capital injection for the 12-year-old company. According to the company’s numbers, it has more […]

US-based DXC acquires Russian-founded software development company Luxoft for $2 billion

US-based IT services company DXC Technology has reached a definitive agreement to acquire Luxoft, a custom software development company founded in Russia and currently headquartered in Switzerland, for $2 billion in an all-cash deal. “Luxoft and DXC are highly complementary, and our shared vision of digital transformation makes this strategic combination a great fit for both […]

German e-commerce platform Westwing sells its Russian subsidiary to Elbrus Capital

Editor’s note: This post from East-West Digital News was syndicated with permission. Westwing, a German e-commerce company selling furniture and designer home accessories, has sold to one of the funds of Elbrus Capital its subsidiary covering Russia and Kazakhstan. This full acquisition was closed in mid-November, Elbrus Capital Senior Partner Dmitry Kryukov told Russian business daily Kommersant. The amount of the […]