UCP, Rusnano Sistema Sicar to invest $5 mln in Russia’s Geosplit

MOSCOW, Oct 2 (PRIME) -- Investment group UCP and Rusnano Sistema Sicar fund plan to invest U.S. $5 million in Russian oilfield servicing company Geosplit, state nanotechnology company Rusnano said in a statement on Wednesday.

“Venture investment fund Rusnano Sistema Sicar…and investment group UCP signed an agreement under the B round of investment of $5 million. Investment group UCP became the lead investor of the round, while Rusnano Sistema Sicar, which invested in the company during the round A period in December 2017, was the co-investor,” the statement read.

Geosplit will spend the money on further development, including expansion to foreign markets, digitalization of field development basing on data of marker monitoring, further development of the technology platform, and development of new products on quantum markers of Geosplit, Rusnano said.

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