Top Startups / December 2, 2023
Asaf Fybish

As a growth marketing expert, Asaf helps startups driving scalable growth through data-driven strategies and innovative marketing techniques.

Top Russian Startups To Watch in 2024

Russia is one of the largest and most well-known countries in the world and since its economy was liberalised after the fall of the Soviet Union, its startup ecosystem has developed and matured to create numerous top startups. In 2021, before the crisis in Ukraine, the ecosystem was ranked 17th globally- now being ranked 29th largely due to the political fallout that has been created. Russian startups are still continuing to persevere through this period.

One of the main reasons for Russia's continued improvement of its startup ecosystem is the availability of domestic and foreign VC funding- with a total of 159 VC firms operating within the country. Total funding has fallen in comparison to 2021, with the obvious geopolitical climate being a large driver for this. Despite this, Russian startups still raised $658 Million in the first half of 2022.

The Russian government is also well-known for taking an active role in backing and supporting native startups. One such way this is achieved is through the creation of private companies to channel investments into said businesses, one such institution is the Skolkovo foundation.


1. Checkme

Year Founded: 2019

HQ: Moscow, Russia

Size: 1-10

Founders: Anastasia Faizulenova

Checkme is a Russian startup that was founded in 2019 and is currently based in the city of Moscow. The company works in the medical field and offers reduced costs for a variety of health checkups. This is achieved through partnerships with a variety of accredited medical facilities and practitioners. This helps to reduce the barriers to accessing healthcare and allows poorer people in Russia to access life-saving care.

The business has gone through a number of funding rounds since being founded, with the most recent taking place in December 2021, when it raised $714,000 from a single angel investor. Overall, the company has raised $1.7 Million from eleven investors.


2. Waves Platform

Year Founded: 2016

HQ: Moscow, Russia

Size: 101-250

Founders: Sasha Ivanov

Waves is a Russian startup that was founded in 2016 and is currently based in Moscow, Russia. The company operates in the crypto market and has created a platform for the trading of crypto, in addition to asset and token issuance. Users are able to make faster transfers on the blockchain and benefit from smaller trading fees compared to competitors in the market.

The startup is one of the most well-funded in Russia, having raised a total amount of $142 Million in funding. The exact number of investors that have backed the company is unknown, however, the startup has generated a large amount of funding to reach the next stage in its roadmap.


3. NTechLab

Year Founded: 2015

HQ: Moscow, Russia

Size: 11-50

Founders: Artem Kukharenko

NTechLab is a startup in Russia that was founded in 2015 and is currently based in Moscow. The startup operates in artificial intelligence and machine learning. Their primary product is their facial recognition technology which has a wide variety of potential use cases, including checkouts for supermarkets and security. The company is already operating in multiple markets and is seeing consistent growth.

Investors have been supportive of the startup's offering, with NTechLab raising a total of $17.6 Million from six investors. As the startup branches out into further markets, more funding may become a necessity for this growth to continue.


4. Medical Visual Systems

Year Founded: 2015

HQ: Leningrad, Russia

Size: 101-250

Founders: Andrey Kobets, Kirill Zutryaev

Medical Visual Systems is a Russian startup that was founded in 2015 and is currently based in Leningrad. The company operates in the medical field and develops artificial intelligence and cloud network products for a variety of medical facilities. This helps them to modernise their approach to medicine and become more efficient.

The business has raised a large amount of funding since being founded, with a total of 325 Million Rubles being raised from Kamaflow Business Launcher in December 2022.


5. Qummy

Year Founded: 2019

HQ: Krasnodar, Russia

Size: 51-100

Founders: Aleksey Kislun, Artem Simonyants, Evgeniy Pisarev

Qummy is a Russian startup that was founded in 2019 and is currently based in Krasnodar, Russia. The business operates in the robotics sector and has created a production line where they can mass-produce meals with 180-day shelf lives that can be cooked in seven minutes by a customer using one of their own ovens. This is great for small businesses that don't have kitchen space or staff.

The business has been very active in seeking startup funding, with its last round taking place in September 2022 when it raised $3.6 Million from three investors. Overall, the startup has raised an impressive $6.1 Million from six investors. Further investment will likely be needed to scale up the operation in the future.


6. Broniboy

Year Founded: 2017

HQ: Krasnodar, Russia

Size: 101-250

Founders: Alexander Radionov, Ivan Trufanov

Broniboy is a Russian startup that was founded in 2017 and is currently based in the city of Krasnodar. The company has developed an e-commerce platform that makes it easier for users to get essential products such as food, groceries and more. This makes things more convenient for customers and they can spend less time shopping and more time doing the things that are important to them.

The business has secured a large amount of funding from a single investor across multiple rounds. In total, Broniboy has raised 600 Million Rubles from Krasnodarzernoprodukt Group. It is unclear whether the startup will seek out additional funding in the near future.


7. DeNet

Year Founded: 2017

HQ: Kazan, Russia

Size: 11-50

Founders: Dan Shelestov, Rafik Singatullin

DeNet is a startup in Russia that was founded in 2017 and is currently based in the city of Kazan. The company operates in the IT sector and provides solutions for decentralized data storage and web hosting. Their decentralized platform makes it harder for vulnerabilities to be exploited and therefore increases the safety of data hosted on DeNet, this is important as cyberattacks increase in frequency.

The business has gone through a number of rounds since being founded, with the most recent being a Seed Round in December 2021, when it raised $1.5 Million from six investors. Overall, the business has raised a figure of $2.5 Million from eleven investors.


8. KonnektU

Year Founded: 2021

HQ: Moscow, Russia

Size: 51-100

Founders: Ragozin Alexander

KonnektU is a Russian startup that was founded in 2021 and is currently based in Moscow. They have created a platform for businesses that allows them to aggregate their customer data from a variety of different sources and bring it under one ecosystem for ease of use and improved efficiency.

The startup has gone through a single round of funding since being founded, which took place in August 2021. During this round, the company raised 120 Million Rubles from MTS Ventures.


9. Elementaree

Year Founded: 2014

HQ: Moscow, Russia

Size: 51-100

Founders: Olga Zinovyeva, Szilard Buska

Elementaree is a Russian startup that was founded in 2014 and is currently based in Moscow. The company works in the food market and offers its customers a range of ready-to-eat meals on a subscription basis. These meals help customers to cut down on time spent shopping and measuring out portions, leaving them time to focus on the things they love.

The business has been very successful in raising startup funding, with the last funding round taking place in February 2021, when it raised $3 Million from Maxim Basov.


10. Neiry

Year Founded: 2019

HQ: Moscow, Russia

Size: 11-50

Founders: Alexander Panov

Neiry is a startup in Russia that was founded in 2019 and is currently based in Moscow, Russia. The company develops BCI solutions for enterprise and entertainment, such as handsfree brain-only control solutions, personalisation of home appliances and much more. The business has grown quickly since being founded and looks on track to continue this.

The business has gone through a single round of startup funding since being founded, with 541 Million Rubles being raised from the National Technology Initiative. This funding round took place in May 2021.


11. Kazan Express

Year Founded: 2017

HQ: Moscow, Russia

Size: 101-250

Founders: Kevin Khanda, Linar Khusnullin

Kazan Express is a Russian startup that was founded in 2017 and is currently based in Moscow. The business operates as a regional logistics company and serves the Kazan area and aims to provide rapid 24/7 delivery services to help businesses to get their products to their customers in great time.

The business has gone through a single round of startup funding since being founded, with the company raising a total of $3 Million being raised from AliExpress Russia in March 2021. It is unclear whether the business will raise any additional funding in the immediate future.


12. APIBank

Year Founded: 2018

HQ: Moscow, Russia

Size: 11-50

Founders: Alexey Petrov

API Bank is a startup in Russia that was founded in 2018 and is currently based in the city of Moscow. The business operates in the FinTech market and has created an open banking platform that helps other businesses to create their own banking services through the use of Open API Technology.

The company has done well in securing startup funding since being founded, with the business raising a total amount of 120 Million Rubles from a single investor. It is unclear whether the company will be seeking further funding in the immediate future, however, it will likely be needed to branch into new markets.


13. Motorica

Year Founded: 2015

HQ: Moscow, Russia

Size: 101-250

Founders: Ilya Chekh, Vasiliy Khlebnikov

Motorica is a Russian startup that was founded in 2015 and is currently based in Moscow, Russia. The business operates in the robotics market and undertakes cutting-edge research and development to bring out the potential of robotics in the context of modern medicine. One such example is the provision of working robotic prosthetics. To help victims of injuries to regain independence.

The business has successfully raised startup funding in the past, with its last funding round being a Series A in January 2021 when it raised 300 Million Rubles from a pair of investors. In total, the startup has managed to raise a figure of $5.6 Million from three investors.


14. Symbiosis Finance

Year Founded: 2021

HQ: Presenisky, Russia

Size: 1-10

Founders: Nick Avramov

Symbiosis Finance is a startup in Russia that was founded in 2021 and is based in Presenisky. The business operates specifically in the blockchain space and is a provider of multi-chain liquidity in a decentralized manner. The company is helping to grow the crypto market within Russia and further afield.

The business has gone through a pair of funding rounds since being founded, with the most recent being a Seed Round where it raised $2 Million in funding from eleven investors in 2021. The business also completed a Pre-Seed round where it raised an undisclosed amount of money.


15. Botkin.AI

Year Founded: 2015

HQ: Moscow, Russia

Size: 11-50

Founders: Oleg Bukhalov, Sergey Sorokin

Botkin.AI is a Russian startup that was founded in 2015 and is currently based in the city of Moscow. They have created an AI-powered platform to assist with radiology. Their technology helps physicians to more accurately diagnose the risk of a patient having a tumour and also makes the diagnosis come through significantly faster, which improves the care outcome.

The company has been successful in securing outside funding, with the startup raising a total of $3.8 Million from six investors since being founded. Its last funding round was a Series B Round in December 2020.


16. Yasno.live

Year Founded: 2017

HQ: Moscow, Russia

Size: 51-100

Founders: Andrew Zaitsev- Zotov

Yasno.live is a startup in Russia that was founded in 2017 and is currently based in Moscow. The business has built an online platform that allows people to get easy and quick access to therapy through their network of more than 2000 registered psychologists. This is achieved through video calls, meaning people can get access to their therapist, wherever they are.

The company has gone through a pair of funding rounds since being founded, with the most recent taking place in September 2021, when it raised $1 Million from Xploration Capital. Overall, the business has raised a figure of $1.3 Million from an unknown number of investors.


17. B2Broker

Year Founded: 2014

HQ: Moscow, Russia

Size: 101-250

Founders: Arthur Azizov, Evgeniya Mykulyak

B2Broker is a Russian startup that was founded in 2014 and is currently based in Moscow, Russia. The business helps cryptocurrency and asset exchanges by providing CFDs and technology solutions to help them get off the ground. They provide global liquidity to these businesses.

B2B Broker has raised a respectable amount of funding since it was founded, with the Russian startup raising a figure of $5 Million from an unknown number of investors. It is also unclear whether the company will be seeking further funding in the near future.


18. Celsus.AI

Year Founded: 2017

HQ: Kaluga, Russia

Size: 11-50

Founders: Nikita Nikolaev, Stanislav Chernin

Celsus.AI is a Russian startup that was founded in 2017 and is currently based in Kaluga, Russia. The business operates in the medical field and provides solutions for medical diagnostics using artificial intelligence. This cuts down research time and helps a diagnosis to be made more quickly. One of the company's most influential solutions relates to mammograms.

Investors have gotten behind the mission of the company. After the company's Series A round, it reached the point where it raised a total of $2.4 Million from three investors, if the business aims to grow to the next stage, it is likely that further funding will be needed.


19. TECHNORED

Year Founded: 2015

HQ: Moscow, Russia

Size: 51-100

Founders: Artem Lukin

TECHNORED is a Russian startup that was founded in 2015 and is currently based in Moscow, Russia. They operate in the robotics industry and the company focuses on making affordable and quality robotics solutions for a variety of different industrial applications. This helps their customers to improve production efficiency and make more profit in the long-term.

The business has been through a pair of funding rounds, with the most recent being a Seed Round in November 2021 when it raised a total of 80 Million Rubles from IMPACT Capital. Overall, the business has raised $1.1 Million from two investors.


20. SkillFactory

Year Founded: 2016

HQ: Moscow, Russia

Size: 51-100

Founders: Alexander Eroshkin, Alexander Turilin

SkillFactory is a Russian startup that was founded in 2016 and is currently based in Moscow. The company works in the EdTech market and provides education for data science and coding, by providing effective and practically based courses that can help them to quickly advance their skills.

The business has been through a pair of funding rounds since being founded, with the most recent being a Pre-Seed Round in November 2021 when it raised $700,000 from three investors. The business also raised an unknown amount of funding in its July 2020 Corporate Round.


21. Ubirator

Year Founded: 2018

HQ: Moscow, Russia

Size: 1-10

Founders: Alexey Khatskevich, Nikita Nikishikin, Sergey Kalitov

Ubirator is a startup in Russia that was founded in 2018 and is currently based in Moscow, Russia. They provide a variety of solutions for businesses to help them manage their waste in the most cost-effective and environmentally friendly way possible. They have options for the vast majority of waste styles.

The business has been very active in securing startup funding, with its most recent round taking place in December 2022 when it raised 50 Million Rubles from Zerno Ventures. In total, the company has raised $3.5 Million from five investors.


FAQs

How Many Startups Are There in Russia?

Russia is home to more than 2000 tech startups.

What is the Average Investment in Russian Startups?

Finding the average investment figures for the entirety of Russia is difficult, however, overall funding has decreased drastically across the majority of sectors,

What Startup Industries Are The Strongest in Russia?

The strongest startup industries in Russia are Education, Social & Leisure, and Software & Data.

Top Russian Startups To Watch...
Asaf Fybish

As a growth marketing expert, Asaf helps startups driving scalable growth through data-driven strategies and innovative marketing techniques.

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