Thanks to the support of MIR Management Company, a subsidiary of the SME Corporation (managed by VEB.RF), Gelar startup with revenue of 9 million rubles has grown in five years to a profitable manufacturing company with revenue of more than 200 million rubles. This is stated in the message of the SME Corporation.
The Krasnoyarsk company “Gelar” is the only Russian manufacturer of composite materials “Polykeramoplast” based on ultra-high molecular weight polyethylene and modifying additives. The material is well known on the world market, it is used to protect surfaces in extreme conditions, primarily in large mining and processing enterprises (GOK) and the agricultural sector in the production of conveyor lines.
Cooperation of NGO “Gelar” with the MC of JSC “MIR” began in 2015. The startup was supported by entering into capital in the amount of 45 million rubles and providing an investment loan for 65 million rubles. The financing provided allowed the company to purchase equipment, organize construction and installation work for its installation, and use working capital to start production.
“Russian start-ups, like any other start-ups, do not have sufficient collateral to attract bank financing. That is why the financial services of our MIR management company are becoming more and more in demand in the venture capital market. Thanks to funds managed by management companies, start-up SMEs can obtain resources to launch new projects in order to further reach the required level of financial indicators and production potential for attracting bank financing, and independent development, – said Alexander Isaevich, CEO of the SME Corporation.
NPO Gelar, after receiving comprehensive financial support from the AMC JSC MIR, was able to build on its success and in 2020 attracted a grant from the Innovation Promotion Fund (managed by VEB.RF) in the amount of 20 million rubles, as well as financing from SME Bank in the form of two loans in the amount of 145 million rubles guaranteed by the SME Corporation. To expand production, Gelar signed a lease agreement with a subsidiary of the Regional Leasing Company of the Republic of Sakha (Yakutia) “(subsidiary of the SME Corporation) in the amount of 40 million rubles.