Russia’s VTB Capital has committed investments worth USD 5.5 million to aiHit, a British artificial intelligence company that had received seed funding from Amadeus & Angels Seed Fund. The firm develops fully automated data management systems and counts leading global financial companies such as Capital IQ, Equifax, Dun & Bradstreet as its clients. aiHit intends to use the funds to set up a new R&D centre in St. Petersburg and ramp up its marketing and business development activities.
aiHit (www.aihit.com)
London based aiHit has developed a new method of extracting, managing and analyzing raw data from the unstructured world wide web. Its bots crawl through millions of websites, collecting data on both private and publicly traded companies, resulting in a rich information database of over 5 million entities. Additionally aiHit processes thousands of news sources daily, analyzing the sentiments in them that are particularly useful for lead generation, market research and business information companies.
VTB Capital (www.vtbcapital.com)
Moscow headquartered VTB Capital is Russia’s leading provider of investment banking services and the investment arm of the VTB Group. It has offices in London, Singapore and Dubai, and since its inception in 2008, VTB Capital has participated in 170 ECM and DCM deals that facilitated in investments worth USD 90.7 billion in Russia. The company’s pre-tax profit jumped 55.5% year-on-year to RUB 25.5 billion in 2010.
15/11/2011
Central & Eastern Europe, Investment, Russia, Software & Information Technology