Industrial tech

From unmanned factories to harsh workshops: The present and future of industrial digitalization discussed at top Moscow conference

December 17, 2021

It is still difficult for industrial companies to understand why they are in need of digital transformation. The ideal future for the industry will be not just the automation of the existing processes, but the establishment of new business models. This and other topics were discussed at Nobel Vision. Open Innovations 2.0, a major international conference held yesterday at Skolkovo …

From unmanned factories to harsh workshops: The present and future of industrial digitalization discussed at top Moscow conference Read More

Russian-American startup TraceAir secures $5 million to address “burning needs” in US construction industry

November 30, 2021

Less than one year after securing its Series A round ($3.5 million), TraceAir, a construction software startup with Russian roots, has attracted $5 million from Flashpoint Venture Capital, reports Rusven. Founded in 2015, TraceAir has developed a cloud platform to help construction companies control quality and costs with the help of drone data, smart analytics and an …

Russian-American startup TraceAir secures $5 million to address “burning needs” in US construction industry Read More

Russian-founded graphene nanotube leader valued at $2 billion, inks investment agreement with Daikin

August 4, 2021

OCSiAl, the Russian-founded global graphene nanotube leader, has inked an investment and business cooperation agreement with Japanese giant Daikin Industries. The companies disclosed  OCSiAl’s valuation (“about $2 billion”) but not the terms of the share subscription deal.  Pronounced ‘Oxial,’ OCSiAl refers to four chemical elements: oxygen (O), carbon (C), silicon (Si) and aluminum (Al). Touted as the …

Russian-founded graphene nanotube leader valued at $2 billion, inks investment agreement with Daikin Read More

Russian startup raises $9.3 million to develop next-gen radial drilling technology

July 26, 2021

Perfobore (also spelt ‘Perfobur’), a Moscow based solution provider for wells completion and stimulation, has closed a $9.3 million Series B round. The funding came from  Runtech Ventures — the venture arm of Russian asset management firm RosRegion Razvitie — and from several individual investors including former Schlumberger VP Vladimir Kuksov.  Founded in 2013, Perfobore performed …

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Severstal puts $122 million in digital transformation this year, provides every employee with digital training

February 12, 2021

The Russian steel and mining giant Severstal plans to invest no less than 9.1 billion rubles ($122 million at the current exchange rate) “in IT and digital projects” this year.   This year will see “a significant change [in] the company’s IT process model and organizational structure,” following the creation of “four new client teams responsible …

Severstal puts $122 million in digital transformation this year, provides every employee with digital training Read More

NorNickel adopts blockchain for a more responsible supply chain management

February 3, 2021

As more and more global companies adopt corporate blockchain solutions, Norilsk Nickel (NorNickel), the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has announced it is joining the Responsible Sourcing Blockchain Network (RSBN), a network aimed at supporting responsible sourcing and production practices from mine to market. According to NorNickel, the move …

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Russian-American startup secures $3.5 million to address “the most burning needs” of the construction industry

January 21, 2021

TraceAir, a construction software startup with Russian roots, announces the completion of its Series A $3.5 million round. It was led by London-based XTX Ventures with participation from Liquid 2 Ventures, GEM Capital, GPS Ventures, Andrew Filev (CEO Wrike), Metropolis.VC (which invested in a previous round) as well as US construction industry majors Independent Construction and ENGEO. TraceAir has developed a cloud platform to help construction companies …

Russian-American startup secures $3.5 million to address “the most burning needs” of the construction industry Read More

VEB Ventures invests 1 billion rubles in Zyfra to accelerate Russia’s industrial digitization

January 6, 2021

In late December VEB Ventures (formerly VEB Innovations), a venture fund backed by state development agency VEB.RF (Vnesheconombank), announced an investment of 990 million rubles ($13.4 million at the current exchange rate) in Zyfra. This Russian company develops AI, IIoT-based solutions and robotic mining equipment to digitize the heavy industry. These solutions are intended to provide “objective data analysis” for industrial companies …

VEB Ventures invests 1 billion rubles in Zyfra to accelerate Russia’s industrial digitization Read More

Russian petrochemical major Sibur spearheads digital transformation

November 12, 2020

Russian petrochemical major Sibur told East-West Digital News it has developed a technology which allows high-precision modeling of physicochemical processes in petrochemical production. This technology is unique for Russia, says the company.  A pilot project was launched at Tomskneftekhim in Tomsk, Siberia, where a digital model of a high-pressure polyethylene reactor made it possible to significantly optimize …

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Russian petrochemical major adopts Italian smart glasses to optimize processes and adapt to pandemic

November 12, 2020

Russian petrochemicals leader Sibur has teamed up with Brochesia, an Italian provider of software solutions for wearable devices, to support its network digitalization effort. Brochesia’s smart glasses and augmented reality solutions will help the Russian group enhance several production processes, including maintenance and support services, using AR and developing remote assistance procedures. The adoption of these solutions …

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Severstal goes digital: $100 million to be invested in 2020

November 12, 2020

Last week Severstal, the Russian steel giant, announced it will invest this year 6.7 billion rubles (roughly $100 million) in IT and digital projects, up 7% from 2019. The group’s projects for 2020 span from “new solutions for managing material flows and optimizing the quality of finished products” to building “new technological networks to improve …

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Russian oil tech startup receives $1.6 million from state-supported industry fund

January 31, 2020

New Industry Ventures, a Russian fund created last year, today announced its first deal. The fund has injected 100 million rubles ($1.6 million at the current exchange rate) in ADL Completions, a startup launched in 2017 to develop technological solutions in multilateral and multi-bore well completion. These solutions allow “side-tracks” to be built onto existing wells, maintaining the flow-rate …

Russian oil tech startup receives $1.6 million from state-supported industry fund Read More

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