Russian state-owned Rostec’s subsidiary RT - Business Development and Ruben Vardanyan’s New Dimension Fund Variable Capital Investment have purchased a share of NtechLab, a Russian developer of face recognition technology.
Representatives of the companies have informed Vedomosti newspaper about the deal.
RT - Business Development has purchased 12.5% of NtechLab and New Dimension Fund Variable Capital has bought 25%.
NtechLab was founded by web developer Artem Kuharenko and businessman Alexander Kabakov in 2015. The startup specializes in advanced methods in self-learning neural network to create face recognition algorithms.
Around 100 companies worldwide have launched pilot projects on installation of NtechLab technology, including those in Russia, Europe, USA and China.
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