Advance Capital is pleased to announce the completion of a Series B investment round for Geosplit, a Russian developer of marker-based diagnostics technology for oil and gas well inflow profiling. The investors included UCP Investment Group and the company’s existing investor, Rusnano Sistema SICAR, a joint fund of AFK Sistema and Rusnano.
Geosplit is a high-tech oilfield services company and a developer and integrator of advanced technologies for the oil and gas industry, focused on well inflow analysis. The company’s innovative system for diagnostics and monitoring of horizontal well inflow profiles is based on the use of quantum tracer markers, which form the core of Geosplit’s proprietary know-how.
UCP is one of the largest investment groups in the Russian market. Founded in 2006 by Ilya Shcherbovich and his partners, the group serves as a platform for managing the assets of its partners and co-investors. Assets under management exceed USD 3 billion.
Rusnano Sistema SICAR is a joint fund of AFK Sistema and Rusnano, established in 2016. The average investment size ranges from USD 3 million to USD 10 million. The fund focuses on high-tech projects at early stages of development.
In 2017, Geosplit raised USD 1.5 million from Rusnano Sistema SICAR. As a result of the first investment round, the company developed a product portfolio for oil and gas companies covering inflow analysis across various well types. Proceeds from the Series B investment round will be used to expand Geosplit’s presence in international markets, primarily in China and the Middle East, to develop new products based on marker technology, and to create solutions aimed at digitalizing field development processes.
Alexander Katashov, Chief Executive Officer at Geosplit:
“This is a major milestone in the company’s history. Over the two years since closing the Series A round, we have passed the ‘startup valley of death,’ reached profitability, launched 50 well analysis projects for 10 oil and gas companies, including clients in China, opened one of the most advanced R&D laboratories at the Skolkovo Technopark, built a strong team, and are now fully committed to moving forward.”
Dmitry Kasyanenko, Partner and Managing Director at Advance Capital:
“Geosplit’s success demonstrates strong investor demand for companies with high-quality innovative products and clear international potential. Digital transformation of traditional industries continues at a rapid pace, and industrial technologies with already implemented international projects are attracting particularly strong interest.”
Advance Capital acted as the exclusive financial advisor to Geosplit.
The deal value is USD5 million.