Head of Mail.Ru Group created a fund to invest in robotics startups

The co-founder and CEO of Russian company Mail.Ru Group Dmitry Grishin has created an investment company called Grishin Robotics which will fund projects in personal robotics, Mail.Ru Group representatives reported on Friday.

Personal robotics industry sorely lacks the funding for the development and adoption of new technologies and products as well as being known to potential consumers. Grishin Robotics plans to operate in both directions – Grishin says.

Grishin Robotics Company plans to invest $ 25 M in startups involved in personal robotics. Also, the new company will provide expertise in building IT-companies to startups, as well as advice on HR, PR and other business processes.

Grishin Robotics headquartered in New York, RIA Novosti reports.