Russia startup funding
European tech funding profile
633 startups in Russia have closed 722 funding rounds and raised €3.8B in equity funding (excluding debt and grants) and recorded 127 exits. Debt rounds added €4.0M. Software is the most active sector, and Baring Vostok is the most active investor. Data as of 6 Nov 2026.
#19 in Europe by equity raised — 0.6% of all European startup equity funding.
Equity funding
€3.8B
excl. debt & grants · +€4.0M debt
Funding rounds
722
Companies
633
Named investors
469
Exits
127
Funding over time
2010–2026 · 2026 YTD — equity € raised vs roundsRussia — funding over time — interactive chart.
Data table
| Equity | Rounds | |
|---|---|---|
| 2010 | €22M | 21 |
| 2011 | €108M | 28 |
| 2012 | €289M | 45 |
| 2013 | €224M | 56 |
| 2014 | €295M | 42 |
| 2015 | €163M | 39 |
| 2016 | €289M | 110 |
| 2017 | €321M | 133 |
| 2018 | €492M | 63 |
| 2019 | €276M | 34 |
| 2020 | €267M | 46 |
| 2021 | €806M | 82 |
| 2022 | €178M | 4 |
Top performing sectors
by € raised| Software | €1.1B | |
| E-commerce | €1.0B | |
| Media | €948M | |
| Consumer | €632M | |
| Cybersecurity | €530M | |
| Transportation | €493M |
Fastest growing sectors
2025 vs 2024 by € raisedNot enough 2024–2025 data to rank growth.
Top sectors
by deal countRussia — top sectors — interactive chart.
Data table
| Russia — top sectors | |
|---|---|
| Software | 142 |
| Fintech | 83 |
| E-commerce | 66 |
| Marketing | 63 |
| Transportation | 59 |
| Travel | 52 |
| Consumer | 48 |
| Media | 47 |
| Healthtech | 44 |
| Edtech | 42 |
Stage mix
by € raisedRussia — stage mix — interactive chart.
Data table
| Russia — stage mix | |
|---|---|
| Other | €1.8B |
| Growth/Late | €454M |
| Series D+ | €372M |
| Series A | €326M |
| Series B | €236M |
| Early VC | €234M |
| Seed | €228M |
| Series C | €124M |
| Pre-Seed | €5.0M |
| Grant | €4.3M |
| Debt | €4.0M |
Top deals
largest disclosed rounds| Company | Stage | Date | Amount |
|---|---|---|---|
| ivi | Series D+ | May 2021 | €204M |
| Ozon.ru | Other | Nov 2018 | €177M |
| IXcellerate | Other | Jan 2022 | €169M |
| Ozon | Other | Mar 2020 | €136M |
| Ozon | Other | Apr 2019 | €134M |
| inDriver | Other | Sep 2021 | €127M |
| 3DiVi Company | Other | Sep 2021 | €118M |
| Ozon | Growth/Late | Apr 2014 | €109M |
| Vostok Project | Series A | Dec 2018 | €105M |
| Virtus.pro | Seed | Oct 2015 | €89M |
Top investors
named, by deal count| Baring Vostok | 20 |
| Runa Capital | 18 |
| Internet Initiatives Develompent Fund - IIDF - FRII | 15 |
| Moscow SEED Fund | 14 |
| Mail.ru Group | 12 |
| Sistema | 11 |
| AddVenture | 10 |
| Target Global | 8 |
| Starta Capital | 8 |
| Prostor Capital | 8 |
Top cities
by € raised| Moscow | €2.6B | 380 | |
| Saint Petersburg | €183M | 34 | |
| Encinitas | €42M | 2 | |
| Sankt-Peterburg | €25M | 10 | |
| Novosibirsk | €11M | 6 | |
| San Mateo | €7.5M | 3 | |
| London | €5.5M | 2 | |
| San Francisco | €5.3M | 1 |