Venture Fund “Sistema” signed the first deal

The Russian company Systems develops software products based on technologies in computer vision and machine learning. This was stated by the President of the Foundation Sistema VC Alexey Katkov during a press conference on Thursday, July 7.

The company’s main product is a platform for facial recognition, Luna. Systems focuses on the commercial sector — banking, retail, etc., founder and CEO of the company Alexander Khanin. In 2014, VisionLabs has signed a contract with the credit history Bureau “Equifax”, which created its own system for face recognition technology Systems for anti-fraud, said the co-founder of the company Alexey Nekhaev. This service is connected more than 20 Russian banks, said Nekhaev.

The person of the client can be used as the identifier of the new generation, continues the ” that can not only identify fraud, but also to improve the speed of service repeat customers.
In addition, the partner Systems is a division of the social network Facebook Artificial Intelligence. Together, the company has developed a platform that gives access to tools for training neural networks Torch.

One of the investors of the company were the Foundation for Internet development initiatives (Fria), which was released from the project, the story Director of the Fund Kirill Varlamov. IIDF has invested about 1 million roubles in 2015. Controlling stake remained with the founders, said Khanin. He declined to disclose the company’s revenue.
Katkov believes that technology Systems can be sold overseas, “so we were willing to pay a lot”.

The global market for face recognition was $2.2 billion at the end of 2015, according to a study by MarketsandMarkets. By 2020 it will reach $6.2 billion

The Fund manages Venture Capital Sistema JSFC “Sistema”. The Fund, which was launched in the spring of 2015, is 10 billion rubles to Fund interesting advertising techniques, online shopping, solutions, Saas/Paas projects from the field of the Internet of things, online games and other services in the field of communication and entertainment users.