“Innovotech”, a portfolio company of KAMA FLOW, attracted investments from “Severstal”.

Severstal has acquired a 25% stake in Innovotech, a company developing robotic solutions for the metallurgical industry.

“We were the first investors who four years ago supported Innovotech’s team in creating breakthrough robotic solutions for automating processes in the metallurgical sector. During this time the team has delivered impressive results, bringing to market a robotic system for applying refractory linings that has no world analogues. We are pleased to welcome Severstal, the industry leader and one of the world’s most technologically advanced metallurgical companies, as a strategic partner to the project. Its involvement sets a new, highest level of development and opens strong prospects for joint work on the robotics of industry in Russia and abroad,”

– commented Pavel Okhonin, partner at KAMA FLOW.

The deal includes a long-term contract to implement the Smart LR complex at the site of the Cherepovets Metallurgical Plant.

Today we are particularly drawn to solutions capable of delivering tangible effects for our production quickly. Therefore, we are looking for promising companies with whom we can work not only as contractors but also as partners. An early investor in Innovotech is our longtime partner—the investment company KAMA FLOW—and we are glad to join forces. It is also important that such technologies cannot be perfected without manufacturing expertise—here Severstal plays a key role, embodying its principle “Achieve More Together,”

– notes Ilya Pavlov, head of the Severstal Ventures fund.

The long-term agreement with Severstal will provide Innovotech with a foundation to expand its product line and further grow its business.