Softline Venture Partners, the venture arm of Russian software giant Softline, has invested in T-1 Group, a provider of B2B and B2C telematics solutions and navigation technologies. No details of the transaction were disclosed.
“The acquisition of a stake in T-1 Group is an investment in the rapid growth of the transport telematics market, which is simply inevitable in our country with its huge distances,” stated Elena Volotovskaya, Head of the Softline Venture Partners Fund and Vice President of Investments at Softline Group.
“At the same time, T-1 Group’s software and hardware platform is mature and effective enough to chances of success on foreign markets, where Softline Group traditionally has strong positions. We will be glad to promote the export of products and technologies created in Russia to more than 50 countries,” she added, echoing the Russian government pro-export policies.
“In any country in the world, transport infrastructure operators face roughly the same challenges. These are about the transport speed and safety, as well as the connectivity of the road network. [Our] platform effectively solves all these challenges for Russian customers and is ready to offer its services to foreign customers,” stated T-1 Group General Director Sergey Ponomarev.
T-1 Group’s core specialties include: systems for monitoring and control of stationary or mobile objects, smart transportation systems, and driving safety analysis system.
So far the company features essentially Russian clients, including leading mobile operators.
Softline Venture Partners says it has invested some $25 million in 20 companies in Russia and neighboring countries since 2008. The corporate venture fund is stage agnostic and focuses on such segments as cybersecurity, cloud computing, Big Data, AI, IoT and edge computing.
Sources: Softline, Softline Venture Partners, T-1 Group
