The robots are coming! Grishin Robotics invests US$250k in RobotAppStore

10 Dec 2012

Want to know what the next big thing will be? Well, combine apps and the latest advances in internet and smartphone technology with robotics and you may have an US$18bn answer. Global investment company Grishin Robotics has just invested US$250,000 in robotic apps market RobotAppStore.

RobotAppStore is the world’s first online marketplace that enables users around the world to purchase and download hundreds of apps that extend the functions of robots in the world today, including AR drone quadcopters, Roomba vacuum cleaners, NAO humanoids and the Sphero robotic ball.

The personal robotics market is a rapidly growing industry – estimated by ABI research to hit the US$18bn mark in 2015.

According to RobotAppStore estimates, based on figures provided by UNECE, IFR, ABI Research and BCC Research, more than 30m programmable robots have been sold to date.

Cloud robotics

“Robotics is a combination of good hardware and software – thus, the important role of a project like the RobotAppStore in the market ecosystem is unquestionable,” said Dmitry Grishin, founder of Grishin Robotics, and co-founder and CEO of Mail.Ru Group.

“The concept of ‘cloud robotics’, which implies ability of all robots to connect to the internet, share a common knowledge database and seamlessly upgrade their functions in real-time, is a soon-to-be future; one reminiscent of the of personal computer industry.

“We believe that the strong team behind RobotAppStore coupled with their ability to leverage the advantages of having a strong community already built around the product, can make this future closer,” Grishin said.

The RobotAppStore was founded in 2011 and developers get 70pc of revenues from apps sold via the store.

“The robotics industry has reached its tipping point with broad market acceptance, usability of robots, and the ability to extend the robots’ capabilities,” said Elad Inbar, founder and CEO of RobotAppStore.

“Being a part of Grishin Robotics’ portfolio provides high synergy with other robotics companies and better resource utilisation. We are excited to use this funding to secure our place as the market leader of the consumer and educational robot-apps industry. I would like to thank our community of developers, and invite awesome and creative developers to join us,” Inbar said.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years