Eastern Europe Tech Roundup: EdTech startups on the rise

STARTUPS

Russian investment company Tashir Medika acquired a 100% stake in a Skolkovo-based startup UNIM that designs digital solutions for early diagnostics of cancer. The scope of UNIM solutions covers the full circle of pathomorphological diagnostics, from taking biomaterials to analysis of results. [Source: Tashir Medika]

Russia-origin game developer Nexters, one of the biggest in Europe by revenue, has sold its four Russia-based subsidiaries: Nexters Studio, Nexters Online, Lightmap and Gamepositive for just $9.5–at a loss of nearly $10 million. The company, which has had its headquarters in Cyprus since 2017, didn’t explain the move. A June decision to reduce 25% of staff based in different countries was linked to “a rise in inflation, changes to personal information legislations, and geopolitical events”, according to the company. [Source: Cnews] 

Russian e-scooter and bike rental company Urent is testing e-scooters with autopilot features. This technology can prevent collisions as well as remotely move a scooter to a parking slot with the help of computer vision. [Source: RB]

EDTECH

Russian EdTech company Ultimate Education posted a record high monthly revenue growth in July with a 53% growth rate year-on-year, which the company links to the success of a community-based model. An online school for game developers XYZ (101% year-on-year) and an online school for psychologists Psychomedia (+106% year-on-year) were the biggest growth drivers. [Source: Myseldon]

A venture fund of Russian biggest mobile operator MTS invested an undisclosed amount in a Belarus-based startup LogicLike that makes brain development mobile applications for kids of 5-12 years in six-languages: English, Russian, Ukrainian, German, Czech and Polish. Besides that LogicLike’s interactive courses and games will be available to the subscribers of some of MTS’s tariff plans. [Source: Cnews]

Russian HR marketplace Profi purchased a 94% stake in Russian education platform TutGood for an undisclosed sum. The founders of TutGood–Ivan Kolankov, Konstantin Klementyev, and Artyom Tatulov–will continue to develop the platform that provides a subscription to tutoring services for kids at a fixed price. [Source: RB]

CYBERSECURITY 

Russian IT company Stakhanovets used artificial intelligence to design a service called “Antiphoto,” which blocks any photo taking of a computer’s screen with valuable information with a smartphone, photo camera or any other device. The software helps prevent data leaks, data theft or fraudulent operations. [Source: Hightech]

Russian companies Internet Rozysk (Internet Manhunt) and T. Hunt developed a tool for locating a Telegram user via a user’s Internet Protocol (IP) address. While the same IP can be used by hundreds of persons a second, the tool tracks 64 sources to be able to define the author of a specific message based on IP address. [Source: RuNet]  

FINTECH

Russia’s biggest bank Sber has managed to get its mobile app back to AppStore from which it had been removed in early March due to the connection with the Russian state. The application under the name SBOL (meaning Sberbank Online) was put on the platform by an independent software company LLC Open IT-Solutions, not formally affiliated with the bank. [Source: IXBT]

Sber has taken out patents for two deepfake recognition technologies. Services based on these technologies will be used for averting cyber attacks, counter fake news, and protecting video conferences. [Source: RB]

Tinkoff Mobile, a mobile operator owned by Tinkoff Bank, introduced a service Neurostchit (Neuroshield) to interrupt a call automatically if the system detects that it is a case of bank fraud. Neuroshield uses artificial intelligence and access to various databases containing information on previous frauds. [Source: VC]

DEALS

Co-founder and one of managers of Kaspersky Lab Alexey De-Monderik has sold his shares for $50 million back to the company and resigned from all positions at the company as of July 2022. Experts suggest that De-Monderik, now a citizen of Malta, may fear possible sanctions from Western countries as Kaspersky Labs has reportedly close ties to the Kremlin. [Source: RTVI]

US-based sports performance analysis company Hudl has acquired InStat, a Russia-based developer of video-based tools for sports analytics for athletes and coaches. Founded in 2007 by a former sports journalist Alexander Ivanskiy, InStat significantly expanded its business beyond Russia with such big names as football clubs PSG, Barcelona, Chelsea, Real Madrid among its clients. [Source: Hudl]

SOCIAL MEDIA

Russian social network VK launched an immediate message translation service from Russian into English, Spanish and Portuguese and vice versa. The translation is facilitated by a neuronetwork that’s trained to define a tone of voice of users and slang. [Source: RB]

VK launched three free courses for automated testing, web design and full-stack development this month, with training aimed at Russian students and recent high school graduates. Around 150 graduates of the program join VK as interns, the company said. [Source: VK]

CIS DIASPORA

‘Spend with Ukraine’ website compiles the latest product offerings from startups and small businesses to support the war effort. The companies span online art galleries, furniture and handmade blankets.

TripleS VC Fund launched in South California and Armenia to support pre-seed and seed stage companies in AI, Blockchain technology, SaaS Platforms, creator economy and fintech. The investment team aims to support talent “not only in Armenia but also among Armenian youth that is spread all over the world.”