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New Industry Ventures Develops Innovative System of Production Video Analytics

02.02.2021

New Industry Ventures (a joint venture fund of Gazprom Neft, Gazprombank, RVC and VEB Ventures) supported the development of Russian video analytics system for occupational safety and industrial control using artificial intelligence and big data technologies.

The Fund invested in the Russian company NVI Solutions, which specializes in the development, supply and integration of artificial intelligence systems for image recognition. Funding will be directed to the creation and development of an automated software system Cyclops. The innovative system allows for real-time and retrospective recording of occupational health and safety violations, as well as monitoring of specified technological operations based on computer vision and machine learning algorithms.

The Cyclops software package analyzes the video stream from video surveillance cameras at the production site, automatically identifying specific types of scenario events. Without human intervention, the system captures possible violations of safety rules and technological processes and allows a prompt response to them.

The prototype of the software complex successfully passed industrial tests and proved its effectiveness in the field conditions as part of pilot projects at the facilities of leading Russian energy companies. In the future, Cyclops can be highly demanded both in production enterprises and in situation analysis centers, as well as in civil engineering, retail, warehouse logistics, traffic control, transport operations and passenger flows, and in other areas. Until 2022, with the support of the New industry Fund, it is planned to finalize the product and implement the system at the facilities of several industrial customers, as well as conclude agreements with the largest Russian IT integrators to replicate the product in Russia and abroad.

Aleksey Vashkevich, Director for Technological Development of Gazprom Neft
Today, Gazprom Neft uses digital tools and machine learning at almost every stage of oil production. Our production facilities are equipped with thousands of sensors and cameras, from which huge amounts of information are received. Efficient processing of this data with the help of artificial intelligence algorithms provides new opportunities for the entire industry, increases control over the operation of equipment and over the compliance of personnel with industrial safety requirements. For example, if an employee exposes himself / herself to a risk, the system will automatically detect it to prevent further actions. Therefore, advanced video analytics is in demand in the oil and gas industry and has a good potential for commercialization.
Alexander Stepanov, Deputy Chairman of the Management Board of Gazprombank
As a finance party, we are involved in the establishment of advanced industrial production facilities throughout the country. The inflow of private and public investments in rapidly progressing technologies to ensure the security of infrastructure facilities will give an additional impetus to the development of the real sector. Modern video analytics systems based on artificial intelligence allow to receive and respond to safety events in real time, which, in turn, allows the companies to move to whole new level of industrial safety. I think that the products based on the resource and expert base of NVI Solutions have good market prospects.
Aleksey Basov, Deputy General Director — Investment Director of RVC
Russian companies are traditionally among the world leaders in the field of video analytics and machine vision. And we are very pleased that the portfolio of the New industry fund has been supplemented by the profile project NVI Solutions. Technologies to improve production efficiency and safety are an important element of the digital transformation that most industrial companies around the world are undergoing. The company's product has already proved its demand during the pilot tests, and the Fund's investments will allow the team to continue improving the technology and attract new Russian and international customers.
Veronika Fiedler, Senior Managing Director, VEB Ventures
The global video analytics market is expected to reach $13 billion over the next 6 years. It can grow by 20% every year. Growth catalyzes the current crisis, which has allowed investors to see prospects for automation of production processes and increasing the level of technical safety. Artificial intelligence-based video analytics is already quite widely used in retail, healthcare, and construction, and NVI Solutions products will drive this process.
Philip Belyaev, founder and General Director of NVI Solutions
At many production facilities, personnel are constantly faced with sources of increased danger. Health of employees is the most important factor of business success. Industrial video analytics systems for industrial safety are increasingly in demand by manufacturing companies that have high requirements for safety and compliance with technological standards. Product solutions based on computer vision, machine learning and image recognition algorithms open up new opportunities to improve business efficiency through automation of visual information processing, timely control and effective emergency response, which can save the health and, in some cases, save the life of an enterprise employee.


Information

Gazprom Neft is a vertically integrated oil company. The main activities are exploration and development of oil and gas fields, oil refining, production and sale of petroleum products. In terms of oil production and processing, Gazprom Neft is among the three largest companies in Russia. The structure of Gazprom Neft includes more than 70 oil producing, refining and marketing enterprises in Russia, the countries of the near and far abroad.

Gazprombank is among the three leaders of the Russian banking industry in terms of volume indicators (according to INTERFAX-100. Banks of Russia, www.finmarket.ru/database/rankings/), as well as among the largest financial institutions in Central and Eastern Europe.

Gazprombank provides a wide range of services to corporate and private clients. The Bank serves key sectors of the Russian economy-gas, oil, chemical and petrochemical, metallurgy, electric power, mechanical engineering, transport, construction, communications, agroindustrial complex, trade and other industries.

Gazprombank's retail business is focused on providing modern high-tech products and services. At the beginning of 2020, the Bank serves about 5 million customers-individuals, retail loan portfolio at the end of 2019 is more than 550 billion rubles, retail deposit portfolio is more than 480 billion rubles.

RVC-State Fund of funds, Institute of Venture Industry Development of the Russian Federation. The main objectives of RVC, JSC are to stimulate the creation of its own venture investment industry in Russia and to perform the functions of the Project office of the National Technology Initiative (NTI). The authorized capital of RVC, JSC is more than 30 billion rubles. 100% of the capital RVC is owned by the Russian Federation represented by the Federal Agency for the Administration of State Property (Rosimushchestvo). The total number of funds formed by RVC, JSC reached 28, their total amount - 58.2 billion rubles. Share of RVC, JSC — 31.1 billion rubles. Funds with the participation of the capital of RVC, JSC invested more than 290 portfolio companies for a total amount of 23 billion rubles.

VEB Ventures (formerly VEB Innovations) is a company of the VEB.RF group, created to support high-tech projects through direct transactions and the management of funds. Among the priorities of VEB Ventures are financing of promising companies with the attraction of own funds, funds of private and public funds, as well as assistance to Russian startups in entering international markets. The company offers projects not only venture investments, but also tools to support operational management, as well as access to financial products of the companies of the VEB.RF Group. This allows for the formation of support schemes for Russian innovative companies, taking into account their individual needs, including to facilitate access to international markets.

NVI Solutions is an IT company specializing in the development and implementation of software products based on artificial intelligence for industrial customers, as well as their adaptation to specific production tasks and implementation at real production facilities in Russia and abroad.

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