Russian Supermarket Chain X5 Scouting for Israeli Tech
Russian business magnate Mikhail Fridman, who also holds Israeli citizenship, is one of X5’s largest shareholders
Meir Orbach | 11:28 10.06.2019
London-listed Russian supermarket chain X5 Retail Group N.V. is scouting for Israeli startups for investment and collaboration opportunities, Ivan Melnik, the company’s director of business development, said in a Thursday interview with Calcalist. The company is particularly interested in startups focusing on the domains of customer experience, store operation, smart shelving, pricing systems, robotics, supporting supply chains, tracking shipments and controlling food quality and freshness, Melnik said. For daily updates, subscribe to our newsletter by clicking here. X5 is one of Russia’s largest food retailers, having reported revenues of more than RUB 1.5 trillion (approximately $23.6 billion) in 2018. Russian business magnate Mikhail Fridman, who also holds Israeli citizenship, is one of the company’s largest shareholders. Fridman is currently examining the integration of several Israeli technologies into the company’s network, as well as the possibility of investing in Israeli startups that fit the company’s needs.