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Home » Innovation » B2B » Weekly news from startups (and large Internet businesses) in Russia and Eastern Europe

Weekly news from startups (and large Internet businesses) in Russia and Eastern Europe



venture capital russia, startup eastern europe

Posted by: Natasha Starkell  Tags: weekly news  Posted date:  September 18, 2012  |  No comment


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Yes, the headline did need changing. Just take a look at those funding rounds.

Deal flow

The Russian video entertainment service IVI.ru raised $40 million from a number of high profile Russian investors ru-Net, Tiger Global, Prof Media and Frontier Ventures.

Russian ecommerce portal Vseinstrumenti.ru, which sells tools and appliances, secured $30 million funding from Zoom Capital.

In Hungary an online security startup Securr.it (only a Prezi available at this moment) has received 700,000 Euro from the Jeremie-backed venture fund BIGGEORGE’S-NV. The company offers a competing solution to MacAfee, Rapid7 and Qualis, and will scan the websites to protect them from malware, and charge based on a freemium business model.

Polish social learning platform Brainly.com raised 500,000 Euro from Point Nine Capital.

Ukranian VC TA Venture invested in Y-Combinator-startup GetGoing together with a group of international investors that includes Lightbank, Yuri Milner / DST,  Data Collective  and TEC Ventures. GetGoing solves airline capacity utilization problem by offering airfare discounts for leisure travelers.

The Fast Lane Ventures’ version of German KaufDa called Locata has raised an undisclosed amount of investment from E.Ventures and Bonial International Group.

Runa Capital lead a funding round into the California-based Station X, which develops software for genetics scientists.

Launches and new releases

Estonian Gaming accelerator GameFounders announced its six teams, which don’t even have names yet. All together 20 people joined the program in Tallinn, Estonia. The teams come from Italy (former Ubisoft people), the Netherlands (cooperation game), Argentina (browser game), Hungary (gamification of language learning skills), Lithuania (former founders of a browser-based strategy game in Baltics) and Estonia (transferring a board game onto mobile devices). Look forward to the demo day, when the concepts and the names are revealed.

3TS Capital-backed Piano Media launched its aggregated paywall in Poland.

A Ukrainian startup RocketStart.me that offers alternative landing pages, has launched its public beta. In its video the founder Michael Babich shows that the setup of a “coming soon” page is very simple, and allows to introduce unique style to otherwise standard looking landing pages, such as those powered by LaunchRock.

Slovenian voice communication startup Vox.io has added Facebook chat support.

News Reviews

Here is a bit of a … how shall I call it – a gossip? Decide for yourself. Slovak software development firm Quality Unit has cried out “copycats” in the direction of Zendesk. QualityUnit in its blog claims, that Zendesk has replicated a number of features Quality Unit has offered in its customer support platform Live Agent. Whether or not the post proves the act of cloning, one thing is clear: discovering your ideas or design reused is not the best feeling. Live Agent was launched last year, claims to have over 200 customers, employs 25 people and is completely bootstrapped.

The Ukrainian Seedcamp winner London 2012 TRData has been covered by the English-language Ukrainian publication Day.

Russian search engine Yandex is reported to be powering Apple maps in Russia, and is speculated to be discussing a search deal.

Serbian social game developer and publisher Nordeus (Top Eleven, 6 million players) announced its partnership with Bwin.com, a public online gambling company. It plans to develop social gambling games, according to Netocratic. VCs don’t like gambling businesses that much but hey who needs VC money when Nordeus is bootstrapped, profitable and growing. Whether or not fuelling gambling addition remains a question, but then what about gamers spending money on virtual gifts?

Russian interactive reading startup NARR8 (comics, education for adults) has been reviewed by Inside Mobile Apps. The startup, which was backed by Igor Matsanyuk’s fund imi.vc ($4 million raised in 2011) is playing a mistery game, its website is down, but Facebook page is alive and well.

Polish accelerator Huge Thing and Lithuanian accelerator Startup Highway have teamed up for a demo day in London to showcase its teams to the international investors. It will take place on the 1st of October 2012.

And finally last week I got updates from three eastern European startup conferences Webit (Istambul), IDCEE (Kiev) and How To Web (Bucharest). So here is a gentle reminder to check them out, if you have not yet seen their banners or links on our events page.

Have a good week.

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About the author
Natasha Starkell
Twitter LinkedIn Facebook  Google+ Natasha Starkell is the founder and CEO of GoalEurope, advisory firm focusing on technology investment and software development in Russia and Eastern Europe. Prior to starting GoalEurope she has worked in the field of finance, mergers and acquisitions, corporate strategy and offshore outsourcing at Unisys Corporation in Switzerland and United Kingdom. She has an MBA degree from London Business School. She speaks Russian, English and German. She lives in Northern Germany.



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