Almaz Capital

Almaz Capital is an international venture capital firm investing in early stage, capital efficient technology companies. A unique bridge fund headquartered in Silicon Valley, Almaz Capital connects Eastern European/former Soviet engineering and entrepreneurial talent to the U.S. market and helps build global businesses. The firm invests in high-growth sectors such as artificial intelligence and blockchain applications, data engineering, cybersecurity, industrial IoT, networking architecture and infrastructure. Its investors include Cisco, the European Bank for Reconstruction and Development (EBRD), and International Finance Corporation (IFC), a member of the World Bank Group. Founded in 2008, Almaz Capital has invested in over 30 portfolio companies and has had nine exits to date.

Geoffrey Baehr

General Partner

Pavel Bogdanov

General Partner

Alexander Galitsky

Co-Founder and Managing Partner

Ross Hangebrauck

Managing Director

Aniruddha Nazre

General Partner

Daniil Stolyarov

Investment Director

Past deals in Eastern Europe

OneSoil

Series A in 2021
OneSoil is a precision farming platform that focuses on enhancing agricultural productivity through innovative technology. Founded in 2017 and headquartered in Minsk, Belarus, the company utilizes satellite imagery and machine learning to provide detailed soil analysis and field monitoring tools. Its mobile application and platform offer farmers and agricultural companies insights that help improve profitability and sustainability. The OneSoil platform includes features such as Precision Insights tools and a Business to Business API, which leverage extensive data from field trials and proprietary ground truth information. Serving primarily the United States and Europe, OneSoil aims to assist farmers in effectively planning operations, increasing productivity, and optimizing resource usage.

3DLOOK

Series A in 2021
3DLOOK, LLC specializes in artificial intelligence technology solutions that focus on body scanning and measurements for the apparel industry. Founded in 2016 and headquartered in San Mateo, California, with additional offices in Ukraine, the company offers products such as SAIA Perfect Fit and SAIA 3D, which create accurate 3D models of the human body. 3DLOOK's innovations enable personalized shopping experiences by providing brands with detailed body data analytics, which helps in retargeting customers based on their unique body profiles. This technology not only enhances customer engagement and satisfaction but also aids in optimizing design and inventory management, contributing to more sustainable business practices. The company has received recognition for its contributions to retail innovation, including awards from LVMH and the IEEE Retail Digital Transformation Grand Challenge.

Vezet Group

Venture Round in 2017
Vezet Group is the largest ride-hailing company in Russia, formed from the merger of two prominent services, Taxi Saturn and RuTaxi. Operating in over 100 cities across Russia and the CIS, Vezet Group offers a comprehensive taxi booking service that allows passengers to conveniently request rides through a mobile app or by making a quick phone call. The company focuses on providing an accessible and cost-effective transportation solution while enabling drivers to enhance their earnings under favorable conditions. This omni-channel approach ensures that both riders and carriers benefit from a streamlined and efficient ridesharing experience.

2Can

Venture Round in 2015
2can is a Russian startup specializing in mobile point-of-sale technology that enables businesses to accept card payments using smartphones. Launched in September 2012, the service provides a smartphone application compatible with iOS and Android, along with an attachable card reader that processes Visa and MasterCard transactions. 2can was the first mobile acquiring service in Russia to meet the security standards set by Visa and MasterCard, and it offers a dual card reader certified with VisaReady and PCI-DSS compliance. By facilitating payment acceptance anywhere and at any time, 2can not only streamlines financial transactions for businesses but also provides valuable customer insights.

iboxPro

Series A in 2015
In 2015 ibox merged with 2can ( SME mPOS provider in Russia ) Besides of mPOS, they have products and services that provide us additional income sources. 1. Payments — the all-in-one mobile payment and Point of Sale (POS) solution enable SMEs to process payments cost-effectively from E-wallets & Messengers. 2. Software as a Service (SaaS) — a platform for SME, merchants can drive business via a centralized SaaS toolkit. 3. Financial products — short term cash advances and short term loans to select merchants provided from their financial partners.

CarPrice.ru

Series B in 2015
CarPrice Ltd Moscow-based technological start-up launched in 2014. CarPrice develops technology, infrastructure and services for used cars transactions between private sellers and professional buyers. The major part of the business is an online auction. For private sellers CarPrice is a transparent, convenient and safe way to sell the car. For professional buyers CarPrice is a stable and reliable buying channel. To sell his car, the seller comes to a CarPrice representative, the car goes through legal check and standardized technical inspection. Technical report and legal data are then uploaded to CarPrice online auction platform available for authorized buyers only. Buyers bid for the cars, maximum bid wins. The winning bid is offered to the seller as purchasing price. The seller can accept or reject the offer. All the services are free for the seller. Buyers pay for the access to the platform and CarPrice fees for each transaction. CarPrice also offers logistics, warehousing, corporate services and financial solutions for used cars market players in Russia. In 2013 Oskar Hartmann approached a group of investors with an idea to adopt for Russia a business model which successfully deployed in UK and Germany. In 2014 CarPrice online auction was launched. The company's Round B was adjudged as "Deal of the Year" by Venture Awards Russia 2015 (investors included Baring Vostok Capital Partners & Almaz Capital). In 2015 CarPrice was named one of the 100 most talked-about startups in Europe by the American magazine Wired. In 2016 CarPrice Japan opens. In June 2017 Mitsui acquired a 25% stake in CarPrice Japan. March 2018, Tech Tour Growth 50 experts ranked CarPrice among the most promising European growth companies. In 2020 CarPrice was one of the first in the market who launched distant buying. In 2022 CarPrice entered Forbes' top 30 digital companies in Russia as #22. In 2023 CarPrice gets #13 position in the rating. As of the end of 2023 CarPrice operates more than 100 buying offices in 55 cities in Russia and 5 logistic hubs.

RoboCV

Series A in 2015
RoboCV develops intelligent autopilot systems. The company’s flagship product, RoboCV X-MOTION NG, is a multifunctional system designed to automate all types of floor movements for pallet goods at warehouses. The system consists of an electric pallet truck and an intelligent automation system, RoboCV AUTOPILOT, which allows it to work offline without a driver. It supports various operations, including acceptance of goods: moving pallets from the gate to rack or other outdoor storage; shipment of goods: moving pallets from the rack to the gate; cross-docking: moving pallets while avoiding rack storage; picking: moving pallets to complete the order; and other operations involving the floor movement of pallets. The main users of RoboCV X-MOTION NG are warehouse operators (3PL), retail companies, and other companies interested in warehousing. RoboCV was founded in 2012 and is based in Moscow, Russia.

CarPrice.ru

Seed Round in 2014
CarPrice Ltd Moscow-based technological start-up launched in 2014. CarPrice develops technology, infrastructure and services for used cars transactions between private sellers and professional buyers. The major part of the business is an online auction. For private sellers CarPrice is a transparent, convenient and safe way to sell the car. For professional buyers CarPrice is a stable and reliable buying channel. To sell his car, the seller comes to a CarPrice representative, the car goes through legal check and standardized technical inspection. Technical report and legal data are then uploaded to CarPrice online auction platform available for authorized buyers only. Buyers bid for the cars, maximum bid wins. The winning bid is offered to the seller as purchasing price. The seller can accept or reject the offer. All the services are free for the seller. Buyers pay for the access to the platform and CarPrice fees for each transaction. CarPrice also offers logistics, warehousing, corporate services and financial solutions for used cars market players in Russia. In 2013 Oskar Hartmann approached a group of investors with an idea to adopt for Russia a business model which successfully deployed in UK and Germany. In 2014 CarPrice online auction was launched. The company's Round B was adjudged as "Deal of the Year" by Venture Awards Russia 2015 (investors included Baring Vostok Capital Partners & Almaz Capital). In 2015 CarPrice was named one of the 100 most talked-about startups in Europe by the American magazine Wired. In 2016 CarPrice Japan opens. In June 2017 Mitsui acquired a 25% stake in CarPrice Japan. March 2018, Tech Tour Growth 50 experts ranked CarPrice among the most promising European growth companies. In 2020 CarPrice was one of the first in the market who launched distant buying. In 2022 CarPrice entered Forbes' top 30 digital companies in Russia as #22. In 2023 CarPrice gets #13 position in the rating. As of the end of 2023 CarPrice operates more than 100 buying offices in 55 cities in Russia and 5 logistic hubs.

2Can

Series B in 2014
2can is a Russian startup specializing in mobile point-of-sale technology that enables businesses to accept card payments using smartphones. Launched in September 2012, the service provides a smartphone application compatible with iOS and Android, along with an attachable card reader that processes Visa and MasterCard transactions. 2can was the first mobile acquiring service in Russia to meet the security standards set by Visa and MasterCard, and it offers a dual card reader certified with VisaReady and PCI-DSS compliance. By facilitating payment acceptance anywhere and at any time, 2can not only streamlines financial transactions for businesses but also provides valuable customer insights.

Nival

Series A in 2013
Nival Group, founded in 1996 and based in Moscow, is an independent game developer specializing in strategy and role-playing games for personal computers. Established by industry veteran Sergey Orlovskiy, who serves as CEO, Nival began self-publishing its own titles in 2005. The company aims to innovate within traditional game genres, enhancing player experience through diverse gameplay mechanics and a distinctive art style. Nival has developed several successful game series, including the best-selling Heroes of Might and Magic V, Blitzkrieg, Silent Storm, and Etherlords. Currently, Nival's core development studios are focused on projects such as the World War II real-time strategy game Blitzkrieg 3, the award-winning multiplayer online battle arena Prime World, and the collectible tower defense game Defenders 2.

2Can

Series A in 2012
2can is a Russian startup specializing in mobile point-of-sale technology that enables businesses to accept card payments using smartphones. Launched in September 2012, the service provides a smartphone application compatible with iOS and Android, along with an attachable card reader that processes Visa and MasterCard transactions. 2can was the first mobile acquiring service in Russia to meet the security standards set by Visa and MasterCard, and it offers a dual card reader certified with VisaReady and PCI-DSS compliance. By facilitating payment acceptance anywhere and at any time, 2can not only streamlines financial transactions for businesses but also provides valuable customer insights.

Pruffi

Series A in 2012
PRUFFI. Hunting Agency focused on researching and recruiting the best IT-specialists in the Runet companies. Our clients are media, digital and advertising agencies and the big internet companies here in Russia: Condenast, Groupon-Russia, Mail.ru Group, Rambler Afisha, Badoo, RuTube and others.

Jelastic

Series A in 2012
Jelastic, Inc. is a cloud-based Platform-as-a-Service (PaaS) and Container-as-a-Service (CaaS) provider that specializes in Java server hosting. Founded in 2011 and headquartered in Palo Alto, California, with additional offices in Ukraine and Spain, Jelastic offers a platform that allows developers and hosting service providers to deploy and automatically scale applications. The platform supports multiple programming languages, including Java, PHP, Ruby, Node.js, Python, and .NET, and accommodates custom Docker containers. Key features include flexible automatic scaling, collaboration tools, access control, monitoring, backup and disaster recovery options, as well as built-in billing and business analytics. Jelastic aims to improve total cost of ownership by enhancing hardware utilization and enabling efficient infrastructure management for both monolithic applications and microservices.

Travelmenu

Series B in 2012
Travelmenu is one of the Top 3 online travel companies in Russia and the Ukraine, addressing the travel agency (B2B), traditional corporate as well as the B2C market segments. Travelmenu’s distinctive strength is its market-leading product offering with connectivity to 250,000 hotels and 500 airlines, more than any of its local competitors, via Amadeus and XML API connectivity to 3rd parties.

AlterGeo

Venture Round in 2011
AlterGeo, founded in 2008 and initially known as Wi2Geo, is a technology company specializing in hybrid positioning systems that integrate various navigation methods, including WiFi, GPS, and GSM. The company has developed a prominent cross-platform location-based social networking service, which allows users to easily navigate urban environments, discover interesting places, share their locations, and receive personalized recommendations. AlterGeo's platform supports over 30 million devices and processes data from more than 170 million locations daily, utilizing a comprehensive database of unique WiFi and radio signal spots. The company also offers Gvidi, an intelligent mobile recommendation service that personalizes suggestions for cafes, bars, and restaurants based on user preferences and social connections. With a user base exceeding one million, primarily in Russia and Ukraine, AlterGeo has gained international recognition, receiving several awards for its innovative contributions to the tech industry.

Travelmenu

Series A in 2011
Travelmenu is one of the Top 3 online travel companies in Russia and the Ukraine, addressing the travel agency (B2B), traditional corporate as well as the B2C market segments. Travelmenu’s distinctive strength is its market-leading product offering with connectivity to 250,000 hotels and 500 airlines, more than any of its local competitors, via Amadeus and XML API connectivity to 3rd parties.

Qik

Venture Round in 2011
Qik is an online messenger and mobile live video streaming platform that allows users to exchange video messages both individually and in groups. Launched in 2008, Qik has grown to support millions of users across more than 160 countries and is compatible with over 140 smartphone models, including iPhone, Android, Symbian, Blackberry, and Windows Mobile. The platform enables users to capture and share special moments instantly through features like video calling, video sharing, and video messaging, while also providing options to sync and save videos online and on desktops. Founded by Ramu Sunkara, Bhaskar Roy, and Nikolay Abkairov, the company is based in Redwood City, California, with an additional office in Zelenograd, Russia. In 2011, Qik was acquired by Skype Technologies, further enhancing its presence in the video communication space.

Yandex

Venture Round in 2009
Yandex is a prominent Russian internet and technology company, recognized for operating the largest search engine in Russia. The company develops a variety of internet-based services and products, leveraging machine learning to enhance user experiences. Its offerings encompass transportation services, navigation products, mobile applications, online advertisements, and translation services. Yandex operates through several segments, including Search and Portal, E-commerce, Mobility and Delivery, Entertainment Services, and Classifieds. The Search and Portal segment, which provides services in Russia, Belarus, and Kazakhstan, is a significant revenue driver. Additionally, Yandex Türkiye focuses on the Turkish internet market, providing popular services such as swift search results, making it the most visited website in Turkey.
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