The Skolkovo Industrial I Venture Fund, managed by Skolkovo Ventures, investing in Industry 4.0 projects, will invest up to 200 million roubles in the BFG Group, a pioneer in the Russian market in the field of software for optimising production processes. Skolkovo Ventures and Russian Venture Company established the Industrial Fund in 2017 to invest in high-tech projects. Among others, the Fund investors are also UAC PJSC, Russian Railways JSC, and Russian Helicopters JSC.
The Fund investment is divided into several parts. The first one for 50 million roubles has already been provided. The fund plans to invest the remaining tranches when the terms of the contract are met. The parties do not disclose the share and valuation. This is the second round of investment in the BFG Group. In 2016, the BFG Group already raised 80 million roubles from the Internet Initiatives Development Fund (IIDF).
BFG Group is a Russian engineering IT company. BFG products make it possible to create a digital model of production and, using artificial intelligence, optimise business processes, significantly reducing production cycles, volumes of work in progress, which multiplies the profit of the enterprise.
Soft BFG Group is an operational and strategic planning tool for a broad class of employees of manufacturing enterprises: from ordinary engineers to top management. The development of the company helps to make management decisions, increase the efficiency and transparency of enterprise management. The development of the technology company BFG shows the possibility of shortening production cycles, increasing labour productivity, and at times helps to reduce lead times. The clients of the BFG Group were companies such as KAMAZ PJSC, BTK Holding Group of Companies, Sinara — Transport Machines Holding, Renova Group of Companies, and Kalashnikov Group of Companies.
According to IIDF analysts, 13 thousand Russian industrial companies need solutions to optimise and improve production efficiency. The domestic market of solutions for managing industrial business processes and their modelling only in engineering in the next few years will amount to 50–70 billion roubles. According to the Federal State Statistics Service, the dynamics of growth in expenses for industrial automation software in Russia is growing by 8% annually; the results of the Technavio study show the same rates of increase in costs for industrial IT solutions around the world.
The expertise of the company is digital modelling technology. Artificial intelligence is used to build the digital double of the production system automatically. Moreover, the result of any change in the enterprise can be evaluated from an economic and production point of view for the entire enterprise as a whole.