Diving In: Welcome to Russian Tech News
Diving In: Welcome to Russian Tech News
Russia-U.S. relations are at one of the most polarizing moments in history. Our mission is to help you sort through the noise and bring you independent news, analysis and curated headlines on Russia’s latest tech developments and trends.
Russia’s social media landscape and broader internet regulation environment are changing, with potential repercussions for big tech companies like Google and Microsoft. Apple is already adapting to the country’s new “digital sovereignty” policy, with Russian iPhone buyers expected to see “prompts to install software developed in Russia.”
Big tech developments and trends are important, and Russia Tech News can help you keep track of the key stories. But we go beyond, from the latest tech and scientific breakthroughs across sectors to updates on Russian founders and startups around the globe.
In this edition, we’re sharing stories of the world’s biggest underwater space telescope, Yandex’s push into fintech, and a Russian founder-led EV vehicle startup about to go public in the U.S.
Do you have comments, suggestions or tips?
I look forward to hearing from you.
~ Daria
SPACE TECH
> Lake Baikal’s underwater space telescope powers up international search for neutrinos. Lake Baikal, the deepest lake on Earth, makes the perfect spot for the Baikal-GVD telescope and humanity’s quest for neutrinos, the nearly weightless subatomic particles. Unveiled earlier this month after a three-year collaborative effort, the research effort includes scientists from the Czech Republic, Germany, Poland, Russia and Slovakia.
FINTECH
> Yandex, the fifth largest search engine in the world and Russia’s most popular one , is pushing deeper into fintech. The Internet giant is in talks to acquire the small bank Akropol after a failed Tinkoff Bank bid, the Bell reported. Yandex wouldn’t confirm the bid, but the PR team told Russian Tech News the company is “considering applying for a banking license and is reviewing various options in this space.” Since Yandex parted ways with Sberbank last year, the banking license would allow the company to expand its payment offerings and integrate them across marketplace platforms.
[Sources: The Bell, Intellinews, Yandex]
> Head of Russian Bank VTB is bullish on the digital ruble. Russia’s second-biggest bank said that digital currency was “inevitable,” and supports the Central Bank of Russia’s initiative to issue a digital ruble. However, VTB President Andrei Kostin said it’s necessary for the banks to keep clients’ digital wallets.
[Sources: RIA Novosti]
SOCIAL MEDIA
> Telegram Group Inc. has launched voice features similar to Clubhouse and Twitter Spaces, as the company is racing to raise funds to pay about $700 million to its creditors and generate revenue in the long term. Telegram is a Germany-based messaging and social media app launched by Russian-born Pavel Durov. Meanwhile, Clubhouse’s traffic in Russia dropped significantly by mid-March compared to a month before, according to three leading Russian mobile operators.
This hasn’t stopped Russian brands from getting into the voice game. The Tinkoff Bank has developed a version of its voice assistant Oleg (named after the founder Oleg Tinkoff) specifically for Clubhouse. This Clubhouse assistant reportedly “will go into rooms, perform secretarial tasks, moderate discussions, and transcribe the discussions to publish on Telegram.”
[Sources: WSJ, 9to5Mac, TASS, Voicebot.ai]
HEALTH CARE
> Russian government is working to introduce legislation that would make it easier for private companies to access medical information, which would facilitate AI-driven technology and diagnostics. Russia's Ministry of Digital Development (Mintsifry) has come up with a proposal and held discussions last week with other stakeholders, including the Ministry of Health. The goal is to have all medical information within one centralized system, and have 82 percent of medical organizations join by the end of the year. The agency plans to spend 32 billion rubles to integrate the system across all regions.
[Source: Kommersant]
> Scientists in Nizhny Novgorod develop a test for gastric cancer, which would allow early-stage detection based on a patient’s exhale sample. In the U.S., there has been a rising incidence of gastrointestinal cancers in younger patients.
STARTUP SPOTLIGHT
> EV startup Arrival is planning to go public this week in the U.S. via a SPAC. Headed by a Russian founder and former Deputy Minister Denis Sverdlov, the company lists Hyundai, KIA and BlackRock among its investors. The company secured a contract with UPS in 2020 and announced a second small factory in the U.S. last week. It will compete with the likes of Nicola Corporation and Lucid Motors.