RDIF head informs Medvedev of decision to invest in VisionLabs

Interfax, 19.04.2019

GORKI. April 19 (Interfax) - The Russian Direct Investment Fund (RDIF) has approved an investment in the company VisionLabs, which specializes in the creation of products and solutions in facial and object recognition, and is hoping to help it enter the Middle Eastern market, RDIF head Kirill Dmitriev said in a meeting with Russian Prime Minister Dmitry Medvedev on Friday.

"Dmitry Anatolyevich, technologies are highly critical for us, including artificial intelligence. We have approved investments - which we have not announced before - in the Motorika company, which produces prosthetics for children and actively uses elements of artificial intelligence," Dmitriev said.

"And we have also approved investments in the company VisionLabs, which is a global leader in facial recognition. We believe that we will help this company, enter Middle Eastern markets," the head of the RDIF said.

This technology is indeed in active development now, Medvedev said, but also drew attention to the role of the sovereign fund in implementation of national projects.

"No less important is the attraction of provide co-financing into national projects, where such private financing is possible. And in this sense, the role of the RDIF can hardly be overestimated. I hope that you will continue to be involved in this project going forward and carry out this role of an investment filter and just attract potential investors into sphere, where the use of private capital is possible," Medvedev said.