• Russia’s Venture-Capital Funds Look Abroad

    21.06.2016 News

    WallStreetJournal An economic crisis and Western sanctions are prompting funds to seek better opportunities overseas.

    Moscow—Russian venture-capital funds are shifting their gaze to outside the country, contributing to an exodus of capital amid an economic crisis and Western sanctions.

    A robust startup scene emerged in Russia after the collapse of the Soviet Union, and venture-capital funds followed closely behind. New companies sprung from the scientific and academic communities Russia nourished during the Cold War, including Doroga TV, a vehicle-tracking GPS service, and Kuznech, an app that allows customers to shop by browsing online images. But funding is now looking for better opportunities outside Russia.

    Many funds are opening offices abroad or focusing on foreign companies. Moscow-based venture-capital fund Maxfield Capital, for instance, opened offices in Tel Aviv, London and New York earlier this year.

    Some VC firms are choosing to leave Russia altogether, saying the country doesn’t allow entrepreneurship to thrive.
    “It is just morally hard to be in a depressing atmosphere, with a very aggressive state…pushing the society to reject anybody who thinks differently,” said Vladislav Solodkiy, managing partner at Life.Sreda VC, a Russian fund that moved to Singapore from Moscow about a year ago.

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  • Kuznech presented its Retail Recognition service for merchandising audit on the RussianRetailWeek 2016

    09.06.2016 News

    On June, 8, 2016 Kuznech participated in the RussianRetailWeek, a large-scale industry event with the participation of business and government.

    The goal of RRW is to form main directions of retail industry development, determine basic approaches to the development of multi-format retail, review and resolve industry bottlenecks.

    At the Retail’s World Exhibition, which showcased the industry’s most advanced technologies for retail development, Kuznech successfully presented its retail recognition service for merchandising audit, hence supporting the simultaneously running expert discussion of Mobile technologies in auditing and merchandising for the retail.

    Such questions as:
    – Capabilities of mobile technologies in auditing retailers
    – Integration case of mobile audit in the largest Russian retail chains: problems and solutions
    – Human factor vs Mobile audit
    were all illustrated and partly answered by Kuznech’s demo system of its Retail Recognition service.

    Learn more about the service.