A Y-Combinator graduate and California startup, Double Robotics, is the first startup to receive an investment from New York based Grishin Robotics. Grishin was started by Dimitry Grishin who’s been dubbed the “Russian Mark Zuckerberg” by the fine folks at BetaBeat and others.
The investment into Double Robotics marks the first investment made by Grishin Robotics with more on the way. Grishin invested $250,000 into the startup.
Double Robotics has already sold 600 units ($1.2 million) of their first robotic product. The product, called Double, is a robot that puts an iPad on wheels and then gives you a mobile telecommunications device. Think that robot that Sheldon used on Big Bang Theory in the episode where he wanted Steve Wozniak’s autograph, but much more refined.
Grishin’s investment will be spent primarily on scaling, manufacturing and hiring for further development. Double Robotics plans on shipping the 600 pre-orders in the first part of 2013.
“We are thrilled to have Grishin Robotics and Dmitry Grishin, in particular, as our largest investor to date,” said David Cann, Co-founder of Double Robotics. “We read about the new investment firm and Dmitry’s experience in the field of robotics in June 2012 when the fund was announced. The timing was perfect, as we were just beginning the Y Combinator program with our prototype robot. After our public launch in August, we met with Grishin Robotics and were immediately impressed with their mission and deep knowledge of the robotics industry’s past mistakes and potential future. We look forward to working with Grishin Robotics in the years to come as we build our business.”
Grishin is the Chairman of the Board and CEO of Russian firm mail.ru who holds major investments in players like Facebook and Zynga. He became Chairman of mail.ru after global venture capitalist Yuri Milner stepped down. Grishin Robotics is Grishin’s own venture capital firm, which as you can tell from the name, invests in robotics startups.
“Investment in Double Robotics perfectly fits our strategy,” said Dmitry Grishin, founder of Grishin Robotics. “It is a consumer-oriented product with potential to fit a broad range of applications and has already generated strong consumer demand. It’s also important that the price of the product makes it accessible to the wide audience. In addition, the team has creative approach to design and is keen to build user-friendly products — both are very important focus areas for next-generation personal robotics companies. Double Robotics is well positioned to leverage the unique potential of the prominent telepresence robotics market. We have a great belief in Double Robotics team and its product.”
Linkage:
Check out Double Robotics Here
Check out Grishin Robotics Here
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