Intelligence Partner

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 .

While putting together this dashboard we used a methodology developed together with several players of the Russian venture market.

Key terms

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.

While estimating the value of the venture market

we take into account

  • Acquisitions of shares and equities of privately held companies (recipients of investments)
  • Provision of debt financing with the possibility of debt for equity swaps including deferred options
  • Convertible loans and partially borrowed funds

Excluded are

  • Exits
  • Loans, grants

Company features

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).

Venture rounds and startup stages

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 $900K raised in funding.
Round А Early growth (a finished product is available and first sales have been made), between $1M 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).

Investor classification.

1. Investor geography

  • Domestic (Russian) - funds, individuals, companies registered in the Russian jurisdiction. A fund is considered Russian if it meets two of the three criteria: 1) Headquarters in Russia, 2) Investment focus on the Russian market (more than 40% of startups in the portfolio are from Russia), 3) The majority of its managing partners are from Russia.
  • International – private funds, individuals, companies registered in a foreign jurisdiction.

2. Investor type

Тип Описание
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).

Niche Description
Advertising & Marketing Solutions for brand reputation management, consumer profile analysis and development, consumer interaction, advertising and marketing campaign management
AgroTech Agricultural biotechnology, new farming systems (including city farms), precision agriculture systems, agricultural robotics and innovative equipment
Aero & SpaceTech Spacecraft and satellites, unmanned aerial vehicles, aircraft, helicopters, components and electronics for aerial vehicles, automation of airline and airport management
AssistiveTech Solutions for people with disabilities and older adults, including rehabilitation systems, remote monitoring and home care, communication systems for communication, solutions to improve independence and mobility
BeautyTech Innovative cosmetics and perfumery, equipment and devices for beauty industry, nutricosmetics, automation systems for beauty salons, raw materials for cosmetics and perfumery
Business Software Business process automation systems, Business Intelligence, virtual and voice assistants, software development tools, system integration and custom development, collaboration and communication platforms, document management and workflow automation
CleanTech Waste management, cleaning systems, environmental monitoring, alternative energy
ConstructionTech Innovative construction materials, construction equipment and structures, equipment for buildings, BIM and modeling systems, automation of accounting and business processes of construction participants, control and monitoring of construction works, construction marketplaces, solutions for repair, design and decoration
Consumer Goods & Services Pet Solutions, dating services, domestic services, innovative furniture and home products, solutions for kids, etc.
Cybersecurity Data leakage and loss protection; protection of infrastructure, applications, endpoints; authentication and access control systems
E-commerce Marketplaces
EdTech Educational platforms, course creation tools, skills and knowledge assessment systems, organization and learning process management, innovative training equipment and materials
Energy Alternative energy, Smart Grid and distributed energy, power distribution and control equipment, nuclear power, solutions for oil and gas industry, electric transport
EventTech Business process automation for offline and online event management, ticketing systems, audio and video conferencing
FashionTech Marketplaces for the sale of clothing and shoes, recommendation systems for closet selection, innovative clothing (from organic materials, with built-in sensors, etc.), new fabrics and materials
FinTech Automation of banks and financial institutions, private wealth and investment management, payments, transfers and transaction processing, financial services for SMEs, lending, personal finance management, digital money and crypto-assets
FoodTech Innovative food; personalized nutrition; food delivery services; food processing, packaging, storage; food supply chain management; restaurant and cafe automation
Gaming Video games development, cyber sports, infrastructure and equipment for gaming
Healthcare Pharmaceuticals, telemedicine, medical organization management, doctor decision support systems, medical equipment and devices, rehabilitation solutions, digital pharmacies, remote psychological support services
HR & WorkTech Recruitment automation, employee training and development, HR analytics, HR accounting, collaboration and communication platforms, corporate wellness, compensation and benefits
IndustrialTech Industrial automation, innovative industrial equipment, electronics, industrial materials and coatings, solutions for oil and gas industry, engineering and testing
InsuranceTech Marketplaces of insurance services, automation of insurance management
Legal & RegTech Digital lawyers, document flow automation, smart contracts, legal organization management, legal search and data analysis systems, intellectual property management, counterparty review and risk assessment, compliance control, personal data protection
Mapping & Navigation Global navigation satellite systems, navigation equipment and software, GIS and geospatial analytics, geolocation services
Media & Entertainment Solutions for museums, concerts, theaters; music, audio and podcasts; video; movies; TV; photos; digital content creation; digital media
Real Estate Buying, selling, renting, smart home / building, property management systems
RetailTech Salesroom automation, tools for online stores, logistics and warehouse, payment systems
SafetyTech Sanitation and hygiene, public safety monitoring, emergency response, safe buildings, industrial safety
SportTech Solutions for athletes, management of sports organizations, platforms with sports and fitness content, cybersports
Telecom & Communication Building communication networks, services for telecom providers, data centers and IT infrastructure, social networks and networking, audio and video conferencing, multimedia information equipment,\ virtual and voice assistants
Transport & Logistics Connected transportation and traffic management, autonomous ground transportation and UAVs, electric transportation, micromobility, freight management and delivery, warehousing and storage, automation of transportation companies, buying, leasing, sharing, vehicle maintenance, parking solutions
Travel Search and booking tours, travel and hotel management, virtual tours and online guides


  • Blockchain
  • Additive Technologies
  • New Materials
  • BigData
  • Artificial Intelligence and Machine Learning
  • Computer Vision
  • Robotics
  • AR/VR
  • Internet of Things
  • New and Portable Energy Sources
  • Green Technologies
  • Nanotechnology
  • Biotechnology
  • Biometrics
  • 3D Modeling
  • Unmanned Vehicles


  • B2B
  • B2B2C
  • P2P
  • B2G
  • B2C