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September 2020 www.intellinews.com I Page 18
cost at least $1mn and see potential synergies between the company and Rusagro.
RusAgro is one of Russia's largest producers
of sugar, meat, vegetable oil and mayonnaise.
It is owned by the family of ex-senator Vadim Moshkovich, which controls 71.9% of the shares, and a minority stake of 7.3% is held by Basov. The rest of the shares are free-floated.
Basov did not exclude further investments in Elementaree, while the company looks forward to Rusagro's CEO's expertise for scaling the business up to the federal level.
Previous reports suggested that Russian
Direct Investment Fund (RDIF) and vegetable processor Bonduelle had invested about $5mn in Elementaree.
Poland’s Payeye sets up business in Lithuania
Payeye, a payment company registered in Poland, has set up a company in Lithuania, according to the Lithuanian Centre of Registers.The company's activity includes e-money, including issuance, buyout and distribution of e-money and the provision of payment services.
Payeye Europe was registered in Lithuania on September 9 and Poland's Payeye is its sole shareholder. The new company's authorised capital stands at €350,000 and is led by Krystian Tomasz Kulczycki.
Licensed by the Polish Financial Supervisory Authority, the company states on its official website that it offers a payment system which uses a consumer's biometrical data confirm payments.
Rusnano to invest more than $50mn in digital technologies
Rusnano, the Russian state-controlled nanotechnology corporation, has created a RUB4bn fund to invest in digital technologies,
reports East-West Digital News (EWDN).
Half of this amount came from state coffers as part of a national program to develop Russia’s digital economy, reported industry publication CNews.ru.
Starting from the end of this year, under plans, the fund will invest in at least five projects at
the later or growth stages, expecting them to generate RUB1.5bn in revenues ($20mn) by 2024.
The fund will target, in particular, companies operating in the fields of industry digitalization, quantum technologies, wireless communications, blockchain, artificial intelligence, robot and sensor components, computer vision, and IoT.
Rusnano may seek to increase the size of the fund in the future, a company representative told CNews, without providing further details.
Romanian cloud security startup Cyscale aims to raise funds through crowdfunding platform Cyscale, a Romanian startup that develops security solutions for data saved in the cloud, plans to raise €0.3mn on SeedBlink, the largest crowdfunding platform in Southeast Europe.
It aims to raise €200,000 from SeedBlink investors and €100,000 from the GapMinder VC fund as the lead investor.
Cyscale was founded at the end of 2018 by local entrepreneurs Ovidiu Cical, Manuela Ticudean, Laura Cical, and Andrei Milas.
The company from Cluj-Napoca develops protection software solutions for the information saved in the cloud and performs risk analysis of this data.
"Listing on SeedBlink will help us develop our technical and sales team, and make our first steps to global expansion. With a very good product and a strong sales team, we hope to achieve our goal: