Central regions | Finance, business | Retail, FMCG
Grishin Robotics invests in “synergy between robo-tech and entertainment industry”
14 May '14
The Grishin Robotics fund, headed by director general of the Mail.Ru Group Dmitry Grishin, has purchased a minority share in Orbotix, a manufacturer of robotic toys, Rusbase reported.
The exact size of the recently acquired stake has not yet been specified; it is only known that together with The Foundry Group and Shea Ventures, Mr. Grishin invested $15.5m. With the funds received, the company plans to support the development of new products as well as the launch of new robotic games and educational apps.
Orbotix already produces several thousand robots every year. The company’s biggest product is the waterproof robotic orb “Sphero”, which can be controlled via a smartphone or tablet and for which more than 30 apps have been developed. Later this year, the company also hopes to release pre-programmed cylinder “Ollie”, designed for multiplayer games.
Explaining the reasons for his interest in the project, Mr. Grishin said that “Orbotix is a unique example of synergy between robo-technology and the entertainment industry. It has every chance of changing traditional ideas about gaming and creating an entirely new type of gadget.”