RDIF invests in unique health monitoring system Healbe
Press release, 25.05.2018
St. Petersburg, 25 May 2018 - The Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) has announced an investment in the Russian company Healbe — the developer of a unique health monitoring system based on a fitness bracelet with an automatic calorie intake and outtake tracker and measurement of hydration and stress levels. A corresponding agreement was signed today at the St. Petersburg International Economic Forum.
The funds raised as a result of the transaction will provide Healbe with the capital to conduct additional R&D work to further improve the product functionality and service platforms of the device, as well as increase production volumes.
RDIF’s investment in Healbe is being carried out as part of the "Investment Lift" mechanism, which is designed to support medium-sized non-resource companies in the high-tech sector with significant export potential.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"We greatly appreciate the importance of this investment and believe that, thanks to RDIF, the company will be able to modernize its products. Healbe’s health monitoring system has huge potential for application — it is a unique product that has no equivalents, and we hope that RDIF’s investments will further expand the company's business in Russia and abroad."
Artyom Shipitsin, CEO of Healbe, said:
"Partnership with RDIF is an important stage in the development of the company and is a quality sign for other investors. This partnership will allow us to feel much more confident in the markets of the United States and Asia. Our company knows how to deal with investors and we do know what "smart money" means. We see RDIF as this sort of investor who is capable not only to provide growth capital, but also to boost strategic capabilities of the company."
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
Healbe is a Russian company producing the Healbe bracelet of the same name, capable of measuring stress levels and other indicators of a person's physical condition. The company was founded in 2012. www.healbe.com
Healbe is a Russian company producing the GoBe2 bracelet, automatically measuring the amount of calories consumed with food and burn on metabolic and physical activities of a user. It also measures the level of hydration, stress level, pulse, sleep quality and other indicators. The company was founded in 2012 and currently occupies the third place in the world in terms of the number of patents (under the functions used in the devices) after Philips and Samsung. The key markets are USA, China, and Japan. www.healbe.com
The "Investment Lift" mechanism is a program to promote the accelerated development of medium-sized non-resource companies with export potential or the potential for import substitution. The program is aimed at removing restrictions and ensuring dynamic business growth. The goal of the program is to increase the share of revenues generated from exports by promising Russian companies and to reduce the dependence of the Russian market on imports of foreign products and services.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Andrew Leach
Tel: +44 (0) 20 7796 4133