VTB Capital’s venture business today announced an investment in aiHit Ltd, a UK-based artificial intelligence software company. The investment amount to US$5.5 million. VTB Capital was the leading investor alongside Amadeus Capital Partners, the European technology investor and several other existing investors.
AiHit has created a fully automated data management system which can extract, categorise, structure, analyse and manage unstructured data from the web. There are multiple applications for this technology. At present, the company is focused on the business information industry. The company counts Capital IQ, Dun&Bradstreet, Bisnode, Equifax, Datamonitor and other top-tier business information providers among its key clients.
The US$5.5 million investment will finance marketing, business development and R&D. As a part of the business development plan, aiHit is planning a R&D center in St.Petersburg, Russia.
Aidar Kaliev, Head of VTB Capital’s venture business said: "There are several factors, which excite us about this company. First, we believe that aiHit has created a unique technology. To put it simply, the company has invented a new way to extract, manage and analyse raw data. We believe this technology will change the way the industry operates. Second, we see huge market potential for this technology; the company's client portfolio demonstrates that many key players already appreciated our value proposition. Also, as a final point, we are very impressed by the entrepreneurial spirit of this company.”
Alan Hambrook, Founder and the Chairman of aiHit, said: “We are delighted to have VTB Capital on board as an investor; this is a great opportunity for us to bring our company to the next level of its development. It is also a unique chance for the Russian market to absorb expertise, through a newly created R&D center in St.Petersburg. There are many market opportunities in Russia and we shall be opening an office there to develop our business in the CIS region.”
Laurence John, Partner, Amadeus Capital partners said: “It is exciting to work with our new investor – VTB Capital, who understands how to fund aiHit properly and help it grow. We are now perfectly set to exploit the web harvested data market and create a significant, game changing company.”
VTB Capital, the Investment Business of VTB Group, is one of the three strategic business arms of VTB Group, along with the corporate and retail businesses. Since its foundation in 2008, VTB Capital has taken part in more than 170 ECM and DCM deals, which were instrumental in attracting more than USD 90.7bn worth of investments in Russia.
VTB Capital offers a full range of investment banking products and services to Russian and international clients, focusing on arranging operations in the debt, equity, global commodities markets, developing investment and asset management, advising clients on M&A and ECM deals in Russia and abroad. VTB Capital operates in Moscow, London, Singapore, Dubai and Hong Kong, with headquarters in Moscow.
VTB Capital occupies the top position in the debt and equity capital markets in Russia and CIS according to the league tables for the first 9 months of 2011 by Dealogic, Bloomberg and Thomson Reuters. In 2011 VTB Capital research team was ranked #1 in Thomson Reuters Extel Survey and Institutional Investor All-Russia Investor Survey.
Amadeus Capital Partners
Amadeus Capital Partners invests across the technology spectrum with a focus on the communications, networking, hardware and software, media, e-commerce, computer hardware and software and the medtech and cleantech sectors. Since the beginning in 1997, the company has used its unique skills to identify and nurture the high-technology companies of the future. With over £470 million under management, the company has active investments in around 40 companies at any time, specifically across Europe and selectively in Israel.
aiHit is a provider of company data to the business information, market research and lead generation industries. The company specializes in collecting company information from the World Wide Web.
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VTB Capital Investment Management
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