2 Jul '18
Russian VCs at Phystech Ventures in Moscow is investing $300K in autonomous drones for warehousing developed by UVL Robotics, a domestic start-up company. The start-up may raise the investment as a convertible loan.
The UVL Robotics team is said to have developed and already completed successful tests for two of its drone systems and also reached agreements with seven companies on collaboration and further testing in the second and third quarters of 2018.
The expected investment will reportedly cover the preparation and launch of the small-scale manufacture of autonomous drones, and pay for marketing needs. “Our 2018 plans include commercial services in inventory management. Customers will include large-scale 3PL operators, FMCG sector players and retail chains. In the long term, we want to establish presence in the international target markets through active interaction with western logistic companies,” UVL Robotics CEO Evgeniy Grankin said.
Phystech Ventures has been investing in Russia, the U.S. and Southeast Asia. The core focus for the Russian VC fund are teams that develop technology for the Internet of things (IoT), connected platforms, cybersecurity, edtech, energy efficiency, oil and gas, novel materials, and sensors.