CommIT Capital, the venture arm of national telecom operator Rostelecom, has acquired a 25% stake in the document exchange technology provider Transportation Information Technologies (TransInfoTech). The deal was reported earlier this month by Rostelecom.
Rostelecom intends to invest 40 million rubles (approximately $670,000 at the current exchange rate) in the provider at the initial stage.
TransInfoTech is an e-freight management operator engaged in the tracking of international air cargo transportation. It was established in 2011 as part of a pilot project to implement the international e-freight standard for the Russian Government Commission of Transport and Communications.
All the leading local and international airlines and airports operating in Russia participated in the project.
Certified by the Federal Customs Service, TransInfoTech’s solution ‘Customs Gateway’ has been designed to translate the Cargo IMP format used by airlines into the XML format used by the Federal Customs Service of Russia.
Rostelecom and TransInfoTech seek to jointly introduce the international e-freight standard to other means of transportation, including marine, automobile and rail transport, and aviation.
A ‘single window’ platform for all means of transportation will be developed as part of the project. It will be designed as an electronic registration and tracking system for international cargo transportation.
Established in May 2015, CommIT Capital invests in network hardware and software, cloud, storage and security technologies, Big Data, digital media, B2C and B2B services.
Last year, the corporate fund invested in Raidix, a data storage solution provider; Brain4Net, a provider of advanced SDN/NFV solutions; and RDP.RU, a major Russian developer of network solutions for telecoms operators and corporate clients.
