Valuation of Cognitive Technologies and Sberbank Joint Ventures May Exceed $ 4 Billion by 2023
“While we are ahead of the business plan. By 2023 we want to reach the company's valuation of $ 4 billion, now we are revising it upwards. The plan was in October, but as the dynamics have changed, we think that this valuation will increase by 40 %", she said. According to Uskova, Cognitive Technologies investments at the stage of creating the joint venture in the direction of software amounted to $ 22 million, in the direction of sensors - $ 4 million. At the same time, Sberbank didn't disclose investments in the project.
However, the Cognitive Pilot CEO added, it’s premature to talk about whether the company plans to go public, although this can't be ruled out. “It’s not a fact that it will be an IPO, but the estimated amount should be something like this”, she summed up.
In November 2019, Sberbank and Cognitive Technologies announced the conclusion of a legally binding agreement on the creation of the company Cognitive Pilot, specializing in the development of unmanned technologies in the fields of transport, agriculture, computer vision and artificial intelligence.