In mid-December Severstal Ventures, an investment vehicle created last year by the Russian steel and mining giant Severstal, announced an investment in US company Modumetal. The corporate fund has got a minority stake along with existing shareholders Vulcan Ventures, BP Ventures, Founders Fund, Steel Dynamics, ConocoPhillips, Chevron Technology Ventures and others. Based in Seattle, Modumetal claims …
Sistema_VC, the venture capital arm of Russian multi-industry investment conglomerate AFK Sistema, will invest $10 million in UK startup SenSat, Vedomosti daily reported last week. Founded in 2015, this geospatial technology startup “turns complex visual and spatial data into a real-time simulated reality that helps computers solve real world problems.” This AI-powered technology “allows companies operating in …
Last week Severstal, the Russian steel and mining giant, announced the launch of its open innovation portal. Made available in both Russian and English languages, the site features Severstal’s existing initiatives for cooperating with startups, innovative teams and industry experts from across the world. These include the Severstal tech park, the Steel Tech startup accelerator, two investment vehicles (Severstal Ventures …
Steel giant Severstal aims to attract innovators from across the world Read More
BFG Group, a major provider of software solutions to optimize production processes, sill receive $3 million in total from the Skolkovo Industrial Fund. Of this amount, BFG has already received $750,000 as the first part of the investment. The remaining amount will be provided based on specific terms which have not been disclosed. This …
Skolkovo Ventures to invest $3 million in Industry 4.0 startup Read More
Following a Kremlin initiative, 15 big Russian corporations from the metallurgical, chemical and oil industries are likely to become unenthusiastic high tech and social investors. This past July, the Kremlin administration announced its intention to take 500 billion rubles (some $7.7 billion at the current exchange rate) out of the corporations’ “superprofits.” These corporations include Alrosa, Evraz, Magnitogorsk Iron …
Kremlin requests big corps to contribute to giant state-directed tech investment plan Read More
Severstal Ventures, an investment vehicle created earlier this year by the Russian steel and mining giant Severstal, has backed the first round of the Chrysalix RoboValley fund (Chrysalix RBV GP Ltd), along with other corporations. The amount of Severstal Ventures’ contribution has not been disclosed officially, but in an exchange with Russian business daily Vedomosti, …
Rusnano, a state-owned investment corporation focused on developing the Russian nanotechnology industry, has bought a 25% stake in the vendor of LTE equipment Wireless Technology Center (WTC) from Nokia Siemens Networks (NSN), the news agency Prime reported last week. Rusnano paid 330 million rubles (approximately $10 million) in the transaction which valued the joint venture …
Nokia Siemens Networks yields stake in LTE equipment manufacturer to Rusnano Read More
