Grishin Invests $500,000 on Robots
Published: May 29, 2013 (Issue # 1761)
MOSCOW — Grishin Robotics, a company owned by Mail.ru Group CEO Dmitry Grishin, has invested $500,000 in Swivl, a U.S. company that produces robotic video devices.
Swivl said in a statement on its website that Grishin Robotics’s investment would be used to accelerate the development of Swivl’s second-generation model, which will support mobile devices running on iOS and Android software, and assist with the launch of its integrated video services.
According to Swivl’s website, its devices are currently used in over 1,000 schools and 250 universities.
“Swivl be able to bring online education to a new level by radically increasing the amount of high-quality video lectures,” Grishin said.
Swivl is a motion and tracking platform for imaging and teleconferencing, and can be used to capture lectures and presentations and broadcast them.
Swivl is the third company to receive money from Grishin Robotics, which was founded in June with an initial budget of $25 million.
Earlier investments by the firm included $250,000 in Double Robotics, a company developing a mobile videoconferencing system, $250,000 in RobotAppStore and a joint $3.5 million investment in a U.S. startup incubator in collaboration with Logitech and Autodesk.