MTS ready to invest $15+m in start-ups

18 May 2019

MTS, one of Russia’s main mobile operators, earlier this spring launched a corporate venture fund targeting start-ups across Russia and neighboring countries.

In a recent update, telemedicine, Internet of Things, cybersports and other areas were singled out as key funding priorities for the new fund. The fund expects to invest around $15.5m in early-stage start-ups over the next two years.

Last year the corporation launched an in-house accelerator, MTS StartUp Hub, but start-ups may receive funding from the new corporate fund irrespective of whether they participate in that accelerator or not.

MTS aims to support start-ups in Russia and beyond.

Last year, 27 corporations completed 77 investment deals involving start-ups in Russia — three times as many as in 2017, according to RVC data.

Source
Related news
The RISING integrator talked about the technology cooperation between India and Russia
Game software working group to be established in Russia — expert
Sberbank has no critical dependencies on Western suppliers — CEO