Three start-ups, TenderScout, Restored Hearing and Love & Robots, have made it through to the next stage of the ESB Spark of Genius Awards at the 2014 Web Summit, where they will vie for a €25,000 cash prize.
Dublin: 18.09.2014 08.40PM
Dmitry Grishin, co-founder of Mail.Ru Group, who has launched a new robotics start-up investment firm
Dmitry Grishin, the young entrepreneur who co-founded the Russian internet company Mail.Ru Group, is turning his attention to investing US$25m in personal robotics start-ups via a new investment company Grishin Robotics.
The new investment firm, which is launching today, is claiming to be the first global investment company focused exclusively on the personal robotics sector and initially invest US$25m in start-ups around robotics.
Grishin Robotics plans to focus its investments on robotics technology that is ready for mass-market implementation in areas such as home maintenance, education, healthcare, entertainment and transportation. It will invest in companies interested in distributing their already working products to the mass market.
The investment firm will also be aiming to foster a global robotics community.
Grishin, a graduate of Robotics and Complex Automation from Moscow State Technical University, said today that over the last few decades, global investment in innovation has mostly been focused on computing and internet technologies. He said that despite the potential of robotics to impact our everyday lives, investment in this area has been limited.
“To date, the main areas of investment and innovation in robotics have been to support manufacturing. To reach its mass market potential, the personal robotics industry needs both increased capital, resulting in new technologies and product, as well as global awareness," he said.
Apparently Grishin Robotics' broader mission will be to increase public awareness of the robotics industry and establish its relevance for businesses, academic and scientific communities, and the general public.