Russian tech investor Yuri Milner, together with Morgan Stanley chief John Mack, invested an undisclosed amount in Los Angeles, US-based cloud graphics firm Otoy to commercialize its suite cloud-based content creation tools.
Russia
United Capital Partners to file case against two Vkontakte shareholders
Russia fund United Capital Partners said it will be suing two shareholders of the social network Vkontakte, Mail.ru Group and Ivan Tavrin, East-West Digital News reported.
Russia spends US$50 billion for Sochi Olympics
Russia displayed an impressive technological show during the closing event of the XXII Olympic Winter Games in Sochi using the theme Reflections of Russia, which ended with a giant bear putting out the Olympic flame.
Navigator Campus is Russia's first private technology park focused on hardware
Navigator Campus is going to be the first private technology park dedicated to hardware to be launched in Russia. It will focus on projects like wearables, 3-D printing and consumer robotics.
US video editing startup Magisto raises $2M in funding, partners with Russia's Mail.ru
New York, US-based automatic video editing startup Magistro raised $2 million in a recent funding round and has struck a deal that will integrate its technology into the Russian social network Odnoklassniki, which is owned by Mail.ru.
Latest News
The Number 1 travel search engine in Russia, Aviasales, has obtained a $10 million investment from iTech Capital who will take a minority stake in the company which operates under the JetRadar brand internationally, TechCrunch reported.
The Central Bank of Russia echoed its statement that the Ruble is the country's official currency, and being a money substitute, Bitcoin is now banned because it is reportedly used in illegal activities.
Moscow, Russia-based investment fund Flint Capital and government-backed early-stage fund FRII poured an undisclosed amount into St Petersburg-based photo manipulation detecting startup SMTDO Tech LTD.
Yandex, a Russian internet group, announced on its website that it will be opening an office in Berlin. The new office is a sign that the Russian firm is ramping up its foreign ambitions, Reuters reported.
Joaquin Almunia, the Competition Commissioner of the EU, still has to make a decision on allegations that Google abused its market dominance and the price discrimination claims made of Russia's Gazprom before his term ends, Reuters reported.
Rain Rannu, the Founder and Chief Executive Officer of Fortumo, said in his guest post at VentureBeat that more Android app users would pay if local payment options and not just credit cards would be offered.
Russian Internet giant Yandex has invested an unconfirmed amount to acquire logistics provider Multiship to provide an easier way of delivering goods to the customers of Yandex's e-commerce platform.
In its fourth expansion via acquisition, Paris, France-based carpooling site BlaBlaCar added Podorozhniki for an undisclosed sum to tap into the market of Russia and Ukraine.
Herman Gref, the Chief Executive of state-run Russian bank OAO Sberbank, has called on the Kremlin to prevent restrictions to the Bitcoin as lawmakers consider curbs, Bloomberg reported.
