VTB Capital invests $5.5m in aiHit

This is the company's first round of institutional funding; the Amadeus & Angels Seed Fund backed aiHit with seed financing in 2007.

This latest investment will help finance aiHit's marketing, business development and R&D efforts. As a part of the business development plan, aiHit will soon be opening an R&D centre in St Petersburg.

Company
Founded in 2007, aiHit is a provider of company data to the business information, market research and lead generation industries. It uses advanced artificial intelligence and machine-learning technologies to create a company directory directly from the web. aiHit's clients include Capital IQ, Equifax and Datamonitor.

The London-based business employs around 20 staff and is already generating revenue.

People
Aidar Kaliev led the deal for VTB. Laurence John represented Amadeus. Alan Hambrook is founder and chairman of aiHit.

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• Topics
• UK / Ireland
• Expansion
• Technology
• United Kingdom
• Amadeus Capital