«The Moscow Venture Market» — is an interactive dashboard featuring key performance indicators of the city's venture market as well as information on promising market and technology niches, startups, and investors. Updated — monthly.
The dashboard is designed by The Moscow Agency of Innovations jointly with its intelligence partner — Dsight, a company that also contributes to the assessment of investments tracked on the dashboard.
Dsight — a business intelligence platform focused on the technology market. The company regularly publishes the following reports: «Venture Russia» (an overview of Russia's venture market), Fintech Monitor (an overview of finance technologies), Proptech Monitor (an overview of modern technologies in the real estate industry) etc.
Open sources: — mass media, blogs, company sites, public presentations and startup databases, as well as information provided by the intelligence partner, obtained from newsmakers or primary sources.
Indicator values for earlier periods are updated subject to the availability of new information on deals (e.g., data on the value of investments, deal dates etc.). If you spot an error or would like to submit information on your deal to the dashboard, send us a note firstname.lastname@example.org .
While putting together this dashboard we used a methodology developed together with several players of the Russian venture market.
Venture investments — investments of up to 150 million dollars (for ruble transactions - acc. to the Central Bank of Russia's average weighted exchange rate for the period under consideration) into high-risk, technology and potentially high-profit (projects with targeted expected IRR of at least 15%) projects.
Exits — deals during which no additional project-related funding is raised while one or more shareholders sell their stakes through a deal with a strategic investor or via an IPO. Exits are featured on a dedicated page in the dashboard and are not reflected in the total venture market value.
we take into account
We tracked investment in projects/companies of any age (incl. older than 10 years ) and any form of ownership (legal entities (incl. individual entrepreneurs) and private individuals (teams).
Deals were counted as Moscow-based subject to meeting one of the following criteria: 1) The company in question is registered in Moscow or Moscow Oblast (based on its taxpayer ID), 2) The company is registered elsewhere in Russia or abroad, but operates in Moscow (Moscow-based headquarters/branch/manufacturing facilities).
Rounds are determined based on the number of earlier investments in a company. An additional criterion — value of investment (a provisional breakdown of investment rounds is presented in the table below).
|Venture round||Startup stage|
|Pre-seed||Idea (there is an idea, a draft business plan, a prototype), up to $100K raised in funding|
|Seed||Seed (there is an MVP, Product-market fit tests under way, but no first sales yet), between $100K and $500K raised in funding.|
|Round А||Early growth (a finished product is available and first sales have been made), between $500K and $3M raised in funding .|
|Round B||Expansion (production ramp-up, business growth, geography expansion, search for new markets), between $1M and $5M raised in funding.|
|Round С+||Expansion (continuous growth, usually less rapid than in the previous stages), over $5M raised in funding|
Assigning a startup's development stage to a particular round is provisional. The startup stage depends primarily on its product development stage (when respective information is available in open sources).
1. Investor geography
2. Investor type
|Government funds||Privately held business entities and management companies with a Russian legal entity, the majority owner of which is the Government of Russia and/or its institutions.|
|Private funds||Legal entities that have mobilized funds from more than one source to make direct investments in privately held companies and that position themselves accordingly.|
|Corporate funds||Funds whose capital has been formed with internal sources of the founding company.|
|Corporate investors||Private or state-owned companies investing in technology companies|
|Business angels||Private individuals that are buying shares of privately held companies (recipients of investments).|
|Accelerators||Organizations providing short-term support programs (featuring educational, consulting, mentoring and resource components) to early-stage startups.|
The list of niches is based on insights from both local and international sources (Crunchbase, Tracxn, Rusbase, CBInsight, venture market reports).
|Advertising & Marketing||Marketing solutions, ad analytics, new ad channels|
|AgroTech||New sources of raw materials, smart agriculture, incl. agricultural drones, speed breeding|
|Business Software||BA systems, business process management solutions, outsourced business services|
|CleanTech||Environmental monitoring and assessment solutions, «green solutions», power generation and energy efficiency|
|Consumer Goods and & Services||Consumer goods and services|
|Cybersecurity||Antivirus software, access authentication and management systems, data loss and leakage prevention, security information and event management (SIEM), etc.|
|E-commerce||Online commerce, trading platforms, marketplaces|
|EdTech||Educational technologies and online learning platforms|
|Entertainment||Audio, video, TV, music, hobbies, entertainment|
|FashionTech||Fashion, design, new materials in apparel manufacturing|
|FinTech||Financial technologies, payment systems, InvestTech, financial services|
|FoodTech||Food and beverage industry, personalized nutrition, organic food and drink, restaurants, food service|
|Healthcare||Healthcare and medicine, medical devices and equipments, telemedicine, technologies for healthcare institutions, wellness, pharmaceutics, genome technologies|
|HRTech||HR automation, recruitment, employee motivation and management technologies|
|IndustrialTech||Technologies for processing and mining industries, digital manufacturing, additive technologies, digital design and modeling, industrial design|
|InsuranceTech||Digital insurance products|
|LegalTech||Lawyer search platforms, automated document analysis, automated contract management, remote legal support, electronic document management systems|
|Мedia & Communication||Mass media outlets, social networks, messengers, recommendation services|
|PropTech||Real estate management and construction technologies|
|RetailTech||Sales improvement technologies for offline and online stores: electronic shelf labeling, customer experience analytics, loyalty programs, etc.|
|SafetyTech||Video surveillance and face recognition, disinfection and social distance maintenance, other safety enforcement technologies|
|SpaceTech||Space and rocket science|
|SportTech||Sport, cybersport, and fitness technologies|
|Telecom||Telecommunications and internet|
|Transport & Logistics||Motor and maritime transport, aircraft engineering, transportation technologies, vehicles including smart cars and unmanned vehicles, navigation and geolocation|
|Travel||Travel and booking services, hotels, service aggregators|