The Eurasian Center for Innovation (ECI) sold its stake in Touch, a startup that produces charging stations for electric vehicles, a representative of ECI informed RB.RU.
According to the Kontur.Focus system, Eurasian Innovation Center LLC received 3% of Touch Production LLC (Touch’s legal entity) in June 2021. The remaining 97% belonged to Touch’s founder Yuri Orlov. He currently owns 100% of the company.
The amount of the transaction, as well as the size of the initial investment, were not disclosed by the Eurasian Innovation Center. The ECI representative only said that the return on investment was double.
ECI CEO Irina Matskevich clarified that “companies with growth dynamics similar to Touch already have resources and can develop by reinvesting their own profits without attracting third-party investments.” She further added that the fund is interested in remaining in the project as long as the company is actively growing and needs the ICE’s skills.
Touch produces charging stations for electric vehicles and software to operate the charging infrastructure. The company offers a fully compatible charging service for all participants in the electric vehicle market.
Touch’s revenue at the end of 2022 amounted to 40.3 million rubles, 3.5 times more than in 2021. Net profit reached 640 thousand rubles, up from 240 thousand in the previous year.
The partnership between Touch and the Eurasian Innovation Center began with the 2021 acceleration program. Reportedly, the startup, together with ECI experts, “adjusted its development strategy towards cooperation with corporations, formed a plan to develop new markets and also increased the number of public charging stations and corporate customers.
Touch’s website says the company has installed more than 450 charging stations.
Author:
Anastasia Marina
Source: RB
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