ALTHAUS Legal acted as the only legal adviser to the Rusnano Sistema SICAR Venture Fund, created jointly with AFK Sistema, ROSNANO, and the Skolkovo Ventures Industrial Fund, created with the participation of the RVC in support of an investment deal of $8 million in the framework of the next round of financing for iVideon, a platform solution developer of cloud video surveillance (VSaaS) and video analytics. As part of the project’s administration, ALTHAUS Legal carried out pre-investment expertise, as well as full legal support of the transaction until its closure, in accordance with the law of England and Wales. ALTHAUS Legal worked on the transaction’s legal support with a team of lawyers under the guidance of partner Ilya Smirnov and advisor Adam Dafi.

The Ivideon platform solution allows not only to record and save videos, but also to analyze them, increasing the efficiency of business processes, marketing and sales, the level of security, transparency and the competitiveness of companies. Specifically, Ivideon is able to recognize people’s faces in order to identify unwanted visitors and signal when queues appear in stores.

Ivideon plans to use the raised funds to promote the solution in foreign markets, as well as to expand the client base fivefold over 3 years, primarily due to an increase in the number of medium and large businesses connected to the service. The company plans to increase its share of international revenues to 40% in the next 3 years.

For 8 years since the company was founded, more than 3 million companies and individuals have used the services of the cloud-based smart video surveillance platform. The Russian platform brings together users from more than 100 countries. The service can be integrated with any video camera or DVR, and its interface is translated into 10 languages. Among the company’s clients are such well-known brands as Philips, Honeywell, Google, Megafon, Yandex.Taxi, Acronis, Gett, PIK Group, Tinkoff Bank, Moscow Jewelry Factory, Dodo Pizza and many others. The company’s partners are the largest manufacturers of IP cameras, occupying more than 40% of the world market.