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RVC Venture Fund Invests 200 Mln Roubles in Promobot

10.04.2020

The Far East High Technology Fund (DFVT), created by RVC, RUSNANO and the Far East and the Arctic Development Fund, has invested 200 million roubles in the largest producer of service robots in Europe, the Russian company Promobot. The funds will go to the opening of the production of robots in the Far East and new developments in the field of artificial intelligence. Following the transaction, a controlling stake Promobot remains with top management and co-founders of the company.

A part of the Promobot investment will be directed to business development in the Far East. The company will open a separate division in Vladivostok, which will create exterior elements for humanoid robots — Robo-C. The Far Eastern office tasks will also include research and development in the field of modeling appearance.

Alexey Yuzhakov, Chairman of the Board of Directors at Promobot
We have been preparing the transaction for a long time, so we understand what this money will be spent on exactly. Now a significant part of business development is “tied” to the Fund's investments: opening a new representative office of the company (including the production part), R&D, and development of humanoid robots. Together with our partners from the Fund, we have developed a standard flexible view of the areas of application of service robotics. Together, we are preparing a significant layer of solutions that we are ready to present to the world based on current and future Promobot technologies.

Head of the Far Eastern Office Promobot will become Peter Chegodaev — Russian sculptor and designer. He is known for participating in the creation of special effects for Russian blockbusters, such as The Flight Crew and The Age of Pioneers.

Ruslan Sarkisov, General Director of the Far East High Technology Fund
Robotics is one of the critical areas for fund investment. We expect a new phase of market development and the expansion of the scope of the practical application of robots: service robots help reduce interpersonal contacts in crowded places, for example, at the MFC, banks, or do remote diagnostics, which opens up additional opportunities in a pandemic. Promobot — a bright player in the market, a profitable, high-tech company with a professional and motivated team that promptly responds to the demands of the audience. For example, the company has already launched terminals for remote measurement of body temperature and robots for non-contact diagnosis of human health. 65% of the company's sales are in foreign markets. This means that the company has already proved significant export potential and is an international participant in its market and not just a local player.

Investments will also go towards developing a new dialogue system — Promobot based on AI — in the future, indistinguishable from humans, and the development of cases for the use of a service robot — Promobot V.4 — the “flagship” product of the company.

Promobot became the fifth portfolio company of the Fund. The investment portfolio also includes two Far Eastern companies — Visitek, LLC and Hotlid, LLC, the manufacturer of portable mini-projectors Multikubik (Cinemood), and the manufacturer supercapacitor and hybrid drives for transport and energy — Titan Power Solutions. The total amount of monetary funds allocated and approved for financing exceeds 700 million roubles.



Information

Promobot was founded in 2015 in Perm. Since that year, it has been a resident of Skolkovo. Today, Promobot is the largest manufacturer of autonomous service robots in Europe. Promobots work in 38 countries around the world as administrators, promoters, consultants, guides, and concierges, replacing or supplementing “live” employees. The Promobot robots can be found in Sberbank, the Museum of Modern History of Russia, the International Financial Center, Baltimore-Washington Airport, Dubai-Mall. All company products are manufactured and developed in Russia.

The Far East High Technology Fund was established in 2018 by the Far East and the Arctic Development Fund, RVC, and Rusnano. The fund invests in promising high-tech projects and localization projects in the Far East. The volume of the fund is 5 billion roubles.

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