GVA Alatau Fund, together with MOST Ventures and other private investors, has funded the Kazakh startup Dereknet.

The ceremonial signing of the investment agreement with Dereknet took place within the framework of CEVF 2024.

In the field of hydrocarbon extraction, accuracy is considered a key factor for success; however, errors in calculations and assessments often occur, which can lead to significant losses. Dereknet is an innovative platform that ensures not only data provision but also transparency and reliability in decision-making based on fundamental principles.

The main product, Derek Suite, offers a comprehensive approach based on mathematical models and deep and machine learning algorithms. Clients receive not just data, but a mathematical twin of their field or device, which improves the quality of production data and makes decisions more justified and profitable.

According to analysts, both of Dereknet's target markets—Digital Oilfield and Industrial AI—are showing growth. By 2023, the Digital Oilfield market was valued at $43.9 billion with a CAGR of about 5%, while the Industrial AI market was valued at $272.5 million with a CAGR of about 38%.

After successfully attracting an angel investor in 2020, Dereknet continues its growth path. A key link in the investment and innovation strategy of Dereknet became its partnership with the leading innovation hub of Central Asia—the Branch of the Autonomous Cluster Fund "Park of Innovative Technologies" in Almaty.

GVA Alatau Fund LLC, established by the Autonomous Cluster Fund "Park of Innovative Technologies" (ACF "PIT"), acted as one of the key investors in the latest funding round for Dereknet. The startup attracted syndicated investments from 5 investors, including GVA Alatau Fund LLC and MOST Ventures. This collaboration underscores the significance and potential of the innovative technologies developed by Dereknet in the context of the digital transformation of Kazakhstan's industry.

The investments will be directed toward scaling the business in the MENA region, as well as entering the North Sea and North American markets.
The Autonomous Cluster Fund "Park of Innovative Technologies" (ACF "PIT"), created by the Government of the Republic of Kazakhstan in 2014, focuses on the development of Industry 4.0 technologies and plays a key role in forming an innovation cluster that unites various sectors of industry, education, science, and innovation.