Sistema VC's venture fund, Sistema VS and Chinese Internet corporation Alibaba Group invested in the Israeli company SQream, both investors reported: the investment round amounted to $ 26.4 million, the leading investor was Alibaba Group. This information was also confirmed by the marketing director of SQream David Leichner.
SQream develops solutions for storing and processing data with the help of Nvidia graphics processors. These solutions allow you to analyze information 100 times faster than traditional processors, the technology of the Israeli company has been breakthrough in such industries as telecommunications, security, data-based advertising, and it opens up new opportunities in cancer research, explains the president of the Sistema VC Foundation Dmitry Filatov.
The amount of investment Sistema VS side does not disclose, Leichner also refused to disclose the shares of each of the investors. According to the representative of Sistema VC, investments in SQream - one of the largest investments of the fund. A person close to one of the parties to the deal knows that Sistema VC has invested several million dollars, but less than $ 10 million. Other funds also took part in the round. Thus, the total amount of investment in the Israeli start-up, existing since 2010, exceeded $ 40 million.
Leichner clarified that the company will spend investments on further product development and marketing in the US and European countries. The company already has a number of large customers, for example, among telecom operators it works with French Orange, Indian ACL and Thai AIS. In addition, SQream works with the Israeli research center Sheba, which develops drugs for the treatment of cancer, Leichner said. He also noted that by the end of 2018 - in early 2019 Alibaba will begin selling the SQream solution to its customers in China.
Sistema VC is a venture fund with a target capital of 10 billion rubles, the main shareholder is AFK Sistema. In February 2017 it became known that Sberbank and Maginvest Company of the Chairman of the Board of Directors of the Magnitogorsk Metallurgical Combine Viktor Rashnikov had invested 2 billion rubles in the fund. in exchange for 20% in it. The fund invests in projects in the field of the Internet of things, artificial intelligence and machine learning, advertising and financial technologies. Among investments, Sistema VC is a developer of face recognition solutions VisionLabs, a virtual coach of cybersportsmen based on artificial intelligence gosu.ai, an online service order for consumer services YouDo.com and others.
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