Time in Yerevan: 11:07:36,   20 April

Tycoon Ruben Vardanyan’s investment fund acquires shares in Russian artificial intelligence enterprise

YEREVAN, MARCH 22, ARMENPRESS. RT Business Development, a subsidiary of the Russian state corporation Rostec, and New Dimension Fund Variable Capital Investment, a fund owned by Armenian businessman Ruben Vardanyan, philanthropist, cofounder of the Aurora Humanitarian Initiative, have acquired shares of Ntechlab, a Russian enterprise designing facial recognition systems, the company told Vedomosti newspapers.

Rostec said its subsidiary acquired 12,5% of the company.

New Dimension Fund Variable Capital Investment bought 25% of the enterprise. The worth of the deal hasn’t been disclosed.

NtechLab is a Russian company established in 2015. It operates in the field of artificial intelligence.

English –translator/editor: Stepan Kocharyan

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