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The Wall Street Journal website has published a Dow Jones spot story on the VTB Capital’s venture business investing in aiHit Ltd


Tags: venture capital

Oct 7, 2011
LONDON (Dow Jones) - Amadeus Capital Partners said Thursday that its portfolio company aiHit has received $5.5 million from VTB Capital, the investment arm of Russian financial giant VTB Group.

VTB is the first institutional investor in the U.K.-based artificial intelligence company which was seed-financed by the Amadeus & Angels Seed Fund.
AiHit has created a fully-automated data management system which can extract, structure, analyze and manage unstructured data from the web. There are multiple applications for this technology, but the company is currently focused on the business information industry, with Capital IQ, Dun & Bradstreet Corp. (DNB), Bisnode, Equifax Inc. (EFX) and Datamonitor among its key clients.

"aiHit has created an absolutely unique technology: the company has invented a new way to extract, manage and analyze raw data which, we believe, will change the way the industry operates," said Aidar Kaliev, Head of VTB Capital's venture business.

"We see huge market potential for this technology. The company's client portfolio demonstrates that many key players already appreciated the value proposition," he added.

The $5.5 million investment will finance marketing, business development and R&D. As a part of the business development plan, aiHit will be opening an R&D centre in St.Petersburg. 

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