Alphaopen, a Moscow-based developer of IoT solutions for smart construction, will receive up to 260 million ruble ($3.4 million) from two major corporate funds: Orbita Capital, the venture arm of state corporation Rosatom, and Veb Ventures (formerly VEB Innovations), which is backed by state development agency VEB.RF (Vnesheconombank).
The startup will receive a first tranche of 130 million rubles, the second tranche being subject to conditions. The details were not disclosed, but Alphaopen founders will keep control of the company.
The fresh funding will be used to develop further the company’s solutions for security and engineering systems. In particular, Alphaopen is developing a software platform called ‘Alphalogic,’ aiming to combine various solutions (smart sensors, video surveillance, lighting, alarm systems, etc.) within a single control environment.
Founded in 2010, Alphaopen generated last year 224 million rubles in revenues and a profit of 51 million ($3.5 million and $792,000, respectively, according to the average exchange rate in 2019).
Source: Kommersant
