Moscow developer of solutions for smart cities Alphaopen raised $3,3 million. The investors are venture funds of VEB.RF (Veb Ventures) and Rosatom (Orbita Capital). The structure of the deal was not disclosed, but Alphaopen claims that the founders will retain control.
The company will use the funds to develop Alphalogic software platform, which combines various solutions (“smart sensors”, video surveillance, lighting, alarm systems, etc.) into a single control environment.
According to TMT Consulting, the IoT market in Russia will almost double over the next five years, from $2.1 billion rubles in 2019 to $4.1 billion in 2024. At the same time, the software segment in this area will grow at a high rate: from $648 million in 2019 to $1,5 billion in 2024.