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New Industry Ventures fund invests in a new construction oversight system

The “New Industry Ventures” fund (a collective venture fund involving Gazprom Neft, Gazprombank, the Russian Venture Company (RVC) and VEB Ventures) is supporting a project to develop an innovative construction work in progress (CWIP) visualisation and monitoring system.

The New Industry Ventures fund is investing in the development of Skyeer, a cloud-based geospatial data visualisation and business intelligence platform. Support from the New Industry Ventures fund will speed-up further fine-tuning of this digital construction work in progress (CWIP) system, as well as facilitating the scaling-up of the business. The key areas in which this technology will be used are industrial and civil construction, mining and the monitoring of infrastructure, oil, gas and coal facilities and sites, and metallurgy and solid-waste landfills.

The Skyeer cloud platform delivers highly accurate remote monitoring over CWIP, planned-against-actual analysis, earthworks planning, and terracing. The system combines the outcomes of drone monitoring with project design data (in 2D/3D format) and digital terrain models. The programme makes it possible to monitor progress and any deviation from a project, automatically recording any change in the area, distance, angle, volume and profile of objects monitored. Skyeer outperforms traditional monitoring methodologies based on geodesic surveys and the construction of expensive 3D models. Deploying the Skyeer platform cuts monitoring costs 10-fold, on average, and increases speed and efficiency in updating data 20-fold, while also increasing accuracy.* The product can be directly integrated with client cloud-based services, guaranteeing a high level of data security and confidentiality of commercial information.

Supported by the New Industry Ventures fund, several corporate and industry versions of the product are expected to be developed and launched, and data-analysis tools involving AI and Big Data fine-tuned. A partnership network to expand sales coverage and support the digital platform will be launched in the next two years, with the platform also being launched on international markets.

“Every technology supported by the New Industry Ventures fund is subject to thorough examination by our company. We assess not just the technical feasibility of any such initiative, but also its potential both for deployment within Gazprom Neft and for its commercialisation on the external market. We take a view on how far it is likely to be in demand throughout the entire industry, and whether it is likely to change standard approaches and promote technological development across the industry as a whole. For example, one of the most important performance criteria is — meeting launch deadlines on major infrastructure projects. These demand billions in investment and it’s important that return on investment starts as soon as possible. Modern control and oversight systems mean major construction projects can be monitored, literally, online and decisions taken quickly in the event of any deviation. In addition to which, together with our partners we are developing tools that mean the specific issues of working in our industry can be taken into account.”
Alexey Vashkevich
Alexey Vashkevich Director for Technological Development, Gazprom Neft
“We anticipate that the ‘smart money’ we have raised will allow us to consolidate our technological leadership on the Russian market in 2021. Using our new partners’ knowledge and expertise, we plan to develop existing solutions, and take new ones to market: solutions that can be integrated effectively into clients’ business processes.”
Grigory Volotin Chairman of the Board of Directors and co-founder, Skyeer
Notes for editors

* Compared to traditional monitoring methodologies: inspections and CWIP on-site.

Gazprom Neft is a vertically integrated oil company, primarily engaged in the exploration and development of oil and gas fields, oil refining, and the production and sale of petroleum products. Gazprom Neft is one of Russia’s top three companies in terms of oil production and refining. Gazprom Neft’s corporate structure encompasses more than 70 exploration and production, refining, and retailing enterprises throughout Russia, the CIS and worldwide.

Gazprombank is one of the three largest banks in Russia (by key market volumes, according to the INTERFAX-100, the Central Bank of the Russian Federation, www.finmarket.ru/database/rankings/), and one of the largest financial institutions in Central and Eastern Europe.

The bank provides a wide range of services to corporate and private clients, serving a number of the Russian economy’s key industries including gas, oil, chemicals and petrochemicals, metallurgy, the electric power industry, machine engineering, transport, construction, communications, agriculture, trade, and others.

Gazprombank’s retail business is focussed on offering advanced high-tech products and services. As at early 2020 the bank was servicing around five million individual customers, with a 2019 retail credit portfolio of more than RUB550 billion and a retail deposit portfolio of more than RUB480 billion.

The Russian Venture Company (RVC JSC) is a state fund of funds and a development institution in the Russian venture capital market. The main objectives of the RVC are to stimulate the development of the private venture investment industry in Russia and take on the role of project office for the National Technology Initiative (NTI). The RVC’s authorised capital stands at more than RUB30 billion. This is owned in full by the Russian Federation, represented by the Russian Federal Agency for State Property (Rosimushchestvo). The RVC currently has 28 funds with a total value of RUB58.2 billion (of which RVC’s share is RUB31.1 billion). The RVC currently has funds in 290 portfolio companies, with total approved investments standing at RUB23 billion.

VEB Ventures (formerly VEB Innovations) is a company in the VEB.RF group, created to support high-tech projects through direct transactions and venture capital fund management. VEB Ventures’ priorities include financing promising companies through their own, private and public funds, as well as supporting Russian startups in entering international markets. The company offers projects not only venture capital investments, but also operational management support tools, as well as access to financial products offered by VEB.RF Group companies. This allows the company to formulate support schemes for Russian innovative companies in line with their individual needs, including facilitating access to international markets.

Skyeer (Skyeer IT LLC) is an IT company and data analytics platform developer, involving drone-sourced data and design documentation in 2D and 3D formats. The company provides analytics to support the remote management of industrial, highway, infrastructure, civil engineering, and mining and upstream facilities. As well as developing and deploying its own IT products, the company also operates under the DaaS (“Drone as a Service”) model, providing turnkey drone-based data collection and analysis services.