The Russian Direct Investment Fund, Russia’s sovereign wealth fund, has completed the investment of up to RUR 200 mio in Motorica, Russia’s leading developer and producer of prostheses which incorporate artificial intelligence, the corporate website reports.
The transaction is part of the Investment Lift scheme to stimulate the growth of mid-sized, non-resource companies which have export potential. RDIF’s investment will support the development of Motorica’s product line, including innovative bioelectric multi-functional prostheses, as well as fulfilling the company’s export potential.
By 2021, Motorica plans to develop artificial muscles to achieve fine motor skills in fingers with AI-based control functions, and by 2025 it aims to launch a robotic prosthesis with mobility identical to an arm’s natural movement and ability.
“It is hard to imagine the development of new technologies and equipment using the latest innovative prosthetics methods without adequate financial support. We are pleased to support Motorica’s development and expect the company will not only strengthen its position in the Russian Federation, but also establish new foreign markets for its products,” Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said.