MOSCOW--(BUSINESS WIRE)--RoboCV, a developer of a range of autopilot vehicle products, secured $3 million in new investments from I2BF Global Ventures, VTB Capital Investment Management, LETA Capital, Columbus Nova, Almaz Capital. The firm also announced the completion of the projects at Samsung’s and Volkswagen’s Russian factories with successful robotization of electric warehouse vehicles. The vehicles were outfitted with the X-Motion intellectual autopilot system, developed by RoboCV. Thanks to this system, the warehouse vehicles are now able to function and move around the warehouse and the factory fully autonomously in driverless mode, and they are fully integrated into the intralogistics processes of the factory.
X-Motion is an “artificial intelligence” system for warehouse vehicles. The system is targeted at replacing the human driver, and acts much like a driver. The system “sees” the environment with its vision sensors, and mathematically builds a model of it, and makes decisions on the preferred route and obstacle avoidance maneuvers based on this model. X-Motion is plugged directly into the guidance system of the vehicle (the steering, acceleration and braking systems), and lets the vehicle move around fully autonomously.
The funds will be directed to development of existing “autopilot systems” for warehouses and to develop a pre-series autopilot RoboCV X-MOTION. Also, RoboCV has plans to implement a full-scale complex robotics project in warehouses and production facilities for Samsung’s and Volkswagen’s Russian factories and other clients, and to equip several tens of warehouse machinery systems X-MOTION by the end of 2015.
In addition, funds will be used to develop vehicle autopilot solutions with STILL GmbH, the leading supplier for intelligent control of intralogistics. RoboCV and STILL have plans to get a line of preinstalled autopilot X-MOTION electric trucks. This product will be sold on the Russia and CIS countries markets at the end of 2015 and on the international market in 2016.
“Robots are becoming more affordable and popular in almost all areas of our lives. We see great potential in the development of RoboCV all over the world," says Alexander Korchevskiy, Managing Partner of I2BF Global Ventures.
"In 2013 LETA Capital has announced its $500,000 investment in RoboCV. RoboCV shows excellent dynamic product and business development. RoboCV works with the world's largest plants, so we support the company new investments," states Alexander Chachava, Managing Partner of LETA Capital and a member of the RoboCV’s Board of Directors.
Dmitry Smirnov, Cofounder and commercial director of RoboCV explains that "now the main problem of robotization of electric warehouse vehicles is an increasing complexity of its implementation and, as a consequence, limited scalability and high cost. Our solution works out this problem. I think that in 2-3 years we will see explosive growth in the distribution of vehicle autopilot products around the world.”
"RoboCV is a resident of the Space and Telecommunications Technologies Cluster of Skolkovo. The company started their project as the participants of the Google X Prize. They developed a vision system for a lunar rover and then changed over to a more commercial use of their project,” - said Alexey Belyakov, Vice-President, Executive Director of the cluster.
About RoboCV:
RoboCV is a Russian developer of a range of vehicle autopilot products aimed at full driving automation of several types of vehicles, including warehouse vehicles, open pit mining trucks and vehicles in areas with restricted traffic. The company was founded in 2011 and is a resident of the Skolkovo Foundation. RoboCV included in the TOP 50 most influential companies in the world industry of robotics according to the publication Robotics Business Review.
Video:
RoboCV X-MOTION. STILL CX-T automation
RoboCV X-MOTION. Obstacle avoidance
RoboCV in RT Technology Update show
Складские машины с автопилотом RoboCV X-MOTION
About I2BF Global Ventures:
I2BF Global Ventures is an international clean technology venture capital firm with a global investment mandate. The mission of I2BF Global Ventures is to seek out innovative and competitive companies across the clean technology community, targeting sectors and technologies it believes can lead the path to a brighter future. Since the first portfolio company investment in 2006, I2BF Global Ventures has successfully completed 23 transactions.
For more information, please visit: www.I2BF.com
About LETA Capital:
Established in 2012, LETA Capital is a corporate boutique venture fund founded by LETA Group, a Russian IT-holding company with over $100 million in revenue under management. With deal sizes ranging from $400K to $2 million, the fund is aimed at supporting innovative IT and high tech startup companies in their seed or early growth stage.
For more information, please visit: http://en.leta.vc/
About VTB Capital Investment Management:
VTB Capital Investment Management is one of the key business divisions of VTB Capital with total assets under management over USD 7,6 bln. VTB Capital Investment Management incorporates: VTB Capital Asset Management and VTB Capital Pension reserve.
VTB Capital Asset Management has the necessary license to carry out activities: Russian Federal Financial Markets Service license issued 20.03.2007 № 177-10038-001000 for the management of securities with no expiration date; Russian Federal Financial Markets Service license issued 06 March 2002, № 21-000-1-00059 for management of investment funds, unit investment funds and private pension funds, with no expiration date.
VTB Capital Pension reserve has the necessary license to carry out activities: Russian Federal Financial Markets Service license issued 07.02.2003 № 21-000-1-00108 for the management for management of investment funds, unit investment funds and private pension funds, with no expiration date.
VTB Capital Investment Management ratings:
AAA (Highest Reliability) according to the National Rating Agency
A++ (Extremely High, the highest level of reliability and quality of services) according to Expert RA
Information on the funds, the terms, Federal Law 156-FZ “On Investment Funds" and the regulations regarding financial markets, can be obtained at: Nab. Presnenskaya, 10, Moscow, Russia, 123317; by toll free call from inside Russia: 8 (800) 700-44-04; by visiting one of our agents; or by going online to: www.vtbcapital-am.ru, www.vtbcapital-pr.ru.
About Almaz Capital:
Founded in 2008, Almaz Capital invests in early stage, capital efficient technology companies. The team connects entrepreneurs and engineering talent in untapped emerging tech regions working in high-growth sectors such as enterprise and cloud computing, mobile, Internet infrastructure and services, data storage and management, and ecommerce. The fund's investors include Cisco, the European Bank for Reconstruction and Development (EBRD), and International Finance Corporation (IFC), a member of the World Bank Group. The following companies are among Almaz Capital's realized exits: nScaled acquired by Acronis in 2014; Vyatta, acquired by Brocade in 2012; Qik, acquired by Skype in 2011; and Yandex, IPO 2011. Recent investments include: Starwind Software; If You Can funded along with Greylock Partners; Sensity, funded along with Radar Partners and Mohr Davidow Ventures; Content Analytics, funded along with dunnhumby Ventures, and GoodData, funded along with Andreessen Horowitz, Intel Capital и Tenaya.
For more information, please visit: www.almazcapital.com.
About Columbus Nova Technology Partners (CNTP):
Columbus Nova Technology Partners (CNTP) is a global, multi-stage, technology investment firm operating out of Silicon Valley and New York. The CNTP team is comprised of an accomplished group of entrepreneurs and operating executives who have experienced the full lifecycle of technology companies, from start-ups to Fortune 50 firms. CNTP pride itself on playing the long game, prioritizing long-term relationships over those with odds for a quick exit. This investment philosophy offers portfolio companies a steady investment partner across their entire lifecycle. CNTP firmly believes in the power of globalization and help our portfolio companies embed global thinking into their strategy from inception. Our extensive international experience and superior network of strategic relationships enable our entrepreneurs to gain a global footprint from the outset.