Top Startups / July 7, 2021
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Russian Startups To Watch in 2021

Russia is known for many things and due to its contentious relationship with the western world, some of the finer elements of the country fall out of the public eye. One of these things is the country's startup ecosystem, which whilst not a powerhouse, is still significant. The ecosystem in the country is ranked seventeenth globally and puts it among other countries when putting out top startups. There is also an estimated 2170 startups in the county.

Despite the COVID-19 pandemic, startups in the country managed to close more deals in 2020 than they did in 2019. The unfortunate factor is that the value of those deals collectively, the total amount of funding dropped by 21%. This is clearly a product of the pandemic, however, and the ecosystem is still going strong with $702.9 Million being spent by investors.

1. Ivi

Year Founded: 2010

HQ: Moscow, Russia

Size: 501-1000

Founder(s): Dmitry Alimov, Leonid Boguslavsky, Oleg Tumanov, Todd Weaver

Ivi is one of the biggest Russian startups in the world at the moment. The company was founded in 2010 and like many of the entries on this list, is based in Moscow. The company itself operates a software platform where users can stream on-demand videos for a number of different movies and TV shows. The video player itself is free and this creates a new way for Russians to enjoy the media that they love.

The company itself is also one of the most heavily invested in startups in Russia, with a total of $434.7 Million being poured into the company. This investment was achieved through the collective efforts of 13 investors. Some of this investment came from the Russian Direct Investment Fund, which is operated by the government of the Russian Federation.

2. CarMoney

Year Founded: 2016

HQ: Moscow, Russia

Size: 251-500

Founder(s): Anton Zinoviev

CarMoney is a Russian fintech startup that was founded five years ago and currently makes its home in the capital city of the country, Moscow. The company operates a platform whereby users can get access to micro-lending by using their own personal vehicle as collateral for the loan. This makes the process of getting much-needed money a lot easier for people in the biggest country on the planet.

The company has managed to attract a good level of outside investment to further its growth and development. In total, the company has managed to raise a figure of $10 Million during a Venture Round that was conducted in 2017.

3. YCLIENTS

Year Founded: 2015

HQ: Moscow, Russia

Size: 101-250

Founder(s): Anton Lutsevich, Dmitry Shestakov, Stanislav Petrik, Yuri Petrov

YCLIENTS is a Russian startup that is based in the capital city and has been operating for a total of six years. The company itself operates a SaaS offering that helps small businesses like hairdressers, tattoo artists, and beauticians, among others to set appointments and manage their business. This means that they spend less time trying to run their business and they can focus on doing the work that actually brings the money in.

4. PayQR

Year Founded: 2013

HQ: Moscow, Russia

Size: 101-250

Founder(s): Gleb Markov

PayQR is a Russian startup that has been trading for eight years and is currently based in Moscow. The company operates a Fintech offering that allows customers to make payments for goods and services using their mobile phones. This makes the process of paying much more convenient for the customers and also makes it safer as they do not have to juggle numerous plastic cards and coins.

The company has managed to attract a decent level of outside investment to assist with developing the business. This was achieved through funding rounds in both 2014 and 2016, with the total outcome of these funding rounds leading to the company receiving $5.4 Million- which is a great amount to grow an upcoming business.

5. TalkBank

Year Founded: 2016

HQ: Moscow, Russia

Size: 1-10

Founder(s): Alexander Popov, Mikhail Popov, Vladimir Kozhevnikov

TalkBank is a fintech startup that was founded in 2016 and is currently based in Moscow, Russia. The company currently has a headcount below ten, but that doesn't take away from the strength of their offering. The business operates a bank where users don't have to worry about the typical hassle that comes with banking. This is achieved through the use of a messenger system that allows customers to quickly get in touch with an agent that can help them with their banking needs.

The company has already managed to attract quite a lot of investment since being founded five years ago. A group of four investors has already shown their interest in the business by parting with their money. This has resulted in the business gaining a total of $4.2 Million in startup funding, which has undoubtedly helped the business to improve.

6. TraceAir

Year Founded: 2015

HQ: Redwood City, California

Size: 11-50

Founder(s): Dmitry Korolev

TraceAir is a Russian startup that was founded in 2015 and the company has decided to forgo Russia for Redwood City, California. The company itself creates and develops software solutions using drone imaging to assist construction teams with creating a better picture of their projects. This results in cost savings and benefits for the construction teams and the owner of the buildings themselves.

The company has already attracted attention from a wide variety of investors, with eleven specifically investing their money into the Russia-turned-American startup. The result of this investment has been that the company has received a total of $6.9 Million in startup funding to develop the business.

7. MoneyMan

Year Founded: 2011

HQ: Moscow, Russia

Size: 51-100

Founder(s): Alexander Dunaev, Boris Batine

MoneyMan is one of the most exciting startups in Russia, especially in the country's fintech market. The company has been trading for around a decade now and still operates out of the Russian capital city. The company uses its advanced technology to automate the acceptance and payments processes for loans, in addition to using advanced risk metrics before accepting someone for finance.

MoneyMan is clearly doing well because the company has managed to attain a startup funding amount of $9 Million. This investment was achieved through the venture capital firm Emery Capital and angel investment.

8. Copernicus Gold

Year Founded: 2015

HQ: Singapore

Size: 1-10

Founder(s): Alexey Romanchuk, Damir Gaynanov, Stepan Khukharev, Vladmir Nikolaevich Frolov

Copernicus Gold is a Russian startup that was founded in 2015 and has decided to move away from its home country, in favor of a move to Singapore. The company operates an advanced cloud solution that allows the company to connect blockchain technology with the existing global financial system, which has been a big problem for crypto since it has emerged as a financial system.

The company has already managed to attract some significant funding to improve and develop its offering. In total, this investment has reached a total of $3.5 Million This was achieved through a single venture round back in 2018.

9. BestDoctor

Year Founded: 2015

HQ: Moscow, Russia

Size: 101-250

Founder(s): Mark Sanevich, Mikhail Belyandinov

BestDoctor is a Russian startup that was founded six years and is currently operating in Moscow, Russia. The company works in the healthcare market and helps businesses and individuals with securing health-care based insurance products. The company also has on-hand doctors to conduct telephone appointments for customers, to ensure that they get rapid access to the help that they need.

BestDoctor is doing incredibly well for startup funding, with the company managing to raise a total of $35 Million to further both its platform and the actual operations of the business itself. This investment was achieved through a total of nine investors that have put their faith in this Russian startup.

10. Instreamatic

Year Founded: 2015

HQ: Palo Alto, California

Size: 11-50

Founder(s): Michael Ilyichev, Simon Dunlop, Stas Tushinskiy, Victor Frumkin

Instreamatic is another example of a Russian startup that has exited to go to the states, setting up shop in Palo Alto, California. The company is a marketing startup that creates specific audio adverts that are listened to on mobile applications and more. The platform itself also makes the deployment of these adverts a much simpler task.

Despite only being founded six years ago, this startup is rapidly becoming one of the ones to watch in Russia. In that time, the company has managed to attract investment from a total of six investors and the company itself managed to raise $6.1 Million as a result of this sustained investment.

11. New Cloud Technologies

Year Founded: 2014

HQ: Moscow, Russia

Size: 101-250

Founder(s): Dmitry Komissarov

New Cloud Technologies is a Russian startup that was founded in 2014 and currently has its main base of operations in Moscow, Russia. The company makes its money by developing and deploying cloud infrastructure for businesses so that they can more effectively manage their documents and mass file storage.

New Cloud Technologies is another example of a Russian startup that is currently killing it when it comes to getting investment. In total, the company has managed to secure funding worth $35 Million. The main investor in this company is actually Kaspersky Labs, the company behind one of the biggest brands in cybersecurity.

12. Chefmarket

Year Founded: 2012

HQ: Moscow, Russia

Size: 101-250

Founder(s): Sergey Ashin

Chefmarket is a food and e-commerce startup that was founded in 2012 and is currently based in Moscow, Russia. The company has a significant headcount and it needs it to help produce its recipe and meal boxes. These come with all of the fresh ingredients that customers need to cook an amazing meal and they even come with instructions that are accompanied by images, so you can make anything.

The company has managed to attract a significant amount of investment to help it reach new heights. In total, this investment has amounted to startup funding worth $8.8 Million. This funding was achieved by a group of four investors.

13. CATERY

Year Founded: 2016

HQ: Moscow, Russia

Size: 11-50

Founder(s): Dmitry Fedorov

CATERY is another one of Russia's startups that works in the food sector. This company was set up five years ago and currently has its main operations in Moscow, Russia. The company operates an online marketplace for catering where both businesses and sole people can find a catering solution for their big event. This takes the hassle out of trying to organize food by calling multiple providers.

To date, the company has made a total of $2 Million in startup funding with the help of a sole investor, which shows that all it takes is one yes before your business can be set for the next few years.

14. Amulex

Year Founded: 2010

HQ: Moscow, Russia

Size: 251-500

Founder(s): Vitaly Vinogradov

Amulex is a legal technology startup that was founded in 2010 and is currently operating in Moscow, Russia. The company works in a transparent manner, even claiming to pay back the fees that you have paid if they can't resolve your problem in a positive manner. They focus on making sure that you get rapid advice, rather than having to constantly wait. They operate in a number of areas, including document drafting, finance and tax, housing issues and more.

The company has managed to show an investor that they have the necessary business model to succeed. This has resulted in the company getting investment worth $2 Million. This investment was made by iTech Capital.

15. FITMOST

Year Founded: 2016

HQ: Moscow, Russia

Size: 1-10

Founder(s): Alexandra Gerasimova

FITMOST is a Russian fitness and healthcare startup that was founded five years ago and currently operates in Moscow, Russia. The company allows its members to access a variety of fitness centers through Russia. This gives members a massive number of options to choose from in terms of fitness, no matter where they are in the country.

So far, the company has managed to gain a notable amount of funding to assist with growth and development. This funding totaled an amount of $1 Million and was achieved through a Series A Funding Round that was conducted during 2018.

16. Bidzaar

Year Founded: 2019

HQ: Kaliningrad, Russia

Size: 11-50

Founder(s): Andrey Chernogorov, Anton Buzdalin

Bidzaar is a Russian startup that was founded two years ago and is currently based in Kaliningrad, Russia. The company uses machine learning technology to power a cloud-based, automated procurement system. This helps companies to reduce the cost of their procurement process, which can be reinvested back into the business easily.

The company has recently managed to secure startup funding to further its expansion into the Russian market. This funding was received in June 2020 and came to a total of $2 Million, which is a great bit of business for a business that is this young.

17. AutoSpot

Year Founded: 2013

HQ: Moscow, Russia

Size: 51-100

Founder(s): Dmitry Razorenov, Levon Oganesyan, Oskar Hartmann

AutoSpot is an automotive e-commerce startup that was founded in 2013 and is currently based in Moscow, Russia. The company uses a different kind of model by aggregating the prices of vehicles from a number of different dealerships. This is better for customers as they get access to a variety of different prices in real-time, ensuring that they get the best deal for each vehicle that they want to buy, dependent on their specifications.

The company has managed to attract a large amount of startup funding since being founded eight years ago. In total, the company has managed to raise $8.6 Million. This was achieved through investment from five investors,

18. Hot WiFi

Year Founded: 2012

HQ: Moscow, Russia

Size: 11-50

Founder(s): Dmitry Stepanenko, Vadim Vinogradov

Hot WiFi is a Russian startup that was founded in 2012 and is currently based in Moscow, Russia. The company makes its money by operating a service for managing a business's guest WiFi with authorization. This gives companies access to unique marketing opportunities through the use of SMS marketing.

The company has managed to gain investment funding to further back and develop the business. This investment came from a sole source and was worth a total of $704,700 This was achieved through a Seed Funding round in 2017.

19. Postnauka

Year Founded: 2012

HQ: Moscow, Russia

Size: 11-50

Founder(s): Elena Verevkina, Ivar Maksutov

Postnauka is a Russian educational startup that was founded in 2012 and is currently working in Moscow, Russia. The company runs an educational science project that was conducted first in 2012. Since then, the company's own publishing house puts out an array of educational content, under a variety of different brand names.

The company has managed to receive some startup funding to expand on its activities, with a total of 100 Million Rubles from a sole angel investor. This investment dates back to 2019.

20. Online Patent

Year Founded: 2013

HQ: Moscow, Russia

Size: 11-50

Founder(s): Alexander Atamanov

Online Patent is an intellectual property startup that was founded in 2013 and is currently based in Moscow, Russia. The company provides technology solutions that help to automate some elements of the intellectual property process. This makes the whole process easier for businesses and helps to alleviate a lot of the costs that would be spent on typical legal support. 

The company has already managed to secure startup funding through the demonstration of its product and the need for that product. In total, the company has managed to raise $466,200 for further growth.

21. Amlab

Year Founded: 2014

HQ: Saint Petersburg, Russia

Size: 1-10

Founder(s): Aleksandr Ambalov, Sergey Kim

Amlab is a Russian educational technology startup that was founded in 2014 and is currently based in Saint Petersburg, Russia. The company is aiming to kickstart the artistic and creative classes in the country by offering free online courses for people with those interests and abilities.

The company has already managed to snag support from investors after being founded seven years ago. In total, the company has managed to raise 30 Million Rubles from a pair of investors.

Top Russian Startups To Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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