Success story

Russian industrial AI tools developer raises investment

12 Oct '21
The Industrialny Fund managed by Skolkovo Ventures invested 50 million rubles. to startup Cyberphysics, a technology company that develops digital products to optimize manufacturing processes.

The Skolkovo resident (VEB.RF group), Cyberphysics, was established in 2019 by people from the Skoltech Cyber-Physical Systems Laboratory and over the two years of its existence has managed to implement a number of successful projects with major Russian and international industrial companies. Cyberphysics clients include such companies as Fiat Chrysler Automobiles, NLMK, Uralkali, Gazprom (in partnership with Rotek).

According to the creators, Cyberphysics products allow you to reduce the operating costs of equipment, improve the quality of manufactured products without additional investment and accurately predict the condition of assets in the short, medium and long term.
“Unlike most of the existing local and international teams, Cyberphysics has managed to address two of the industry’s major challenges while providing itself with a significant competitive edge. For example, Cyberphysics solutions use physical and mathematical models to enrich existing technological data and improve the quality of ML algorithms. They can be practically used in the creation and integration of Low/No-code-constructors that require minimal client support in debugging and using analytical tools,” said Viktor Chervyakov, managing partner of the Industrialny Skolkovo Ventures fund.

“We set ourselves the task of developing a product in which both professional Data Scientists and ordinary engineers who understand production processes can quickly and without programming skills create tools that increase the current efficiency of the enterprise. Our main goal is to promote accelerated digitalization and industrial development through democratization and simplification of AI tools, ”said Sergey Nikolaev, co-founder and CEO of Cyberphysics.
According to experts, the existing typical use cases for the company's products provide savings to customers from 50 to 100 million rubles. per year with the possibility of a multiple increase in the effect when they are scaled up.

According to Skolkovo Ventures, the global industrial AI solutions market is about $ 20 billion and is growing at more than 30% annually. At the same time, the local market is at the level of 10-15 billion rubles. with projected growth rates of 20-25%. Another important feature of the market is high investment activity, amounting to about $ 2 billion in VC/PE investments annually, which is also characterized by the emergence of unicorn companies in the sector - Cognite, Uptake, C3.AI, etc.
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