TMCNet:  Robotics app co RobotAppStore raises $250,000

[December 16, 2012]

Robotics app co RobotAppStore raises $250,000

Dec 16, 2012 (Globes - McClatchy-Tribune Information Services via COMTEX) -- Grishin Robotics announced that it has invested $250,000 in RobotAppStore, an online marketplace for robotics applications.

RobotAppStore says it is the first online marketplace enabling users around the world to purchase and download hundreds of applications that extend the functionality of any types of robot -- from Roomba vacuum cleaners and NAO humanoids to the AR.Drone quadcopter and Sphero (the robotic ball). Developers are encouraged to add their own applications to the marketplace (and receive 70 percent of future earnings).


RobotAppStore supports the developers' community with comprehensive knowledge base and programming manuals covering core topics of programming robots as well as opportunity to ask experts in programming of particular type of products.

The company was founded in 2011 by Elad Inbar. Headquartered in San Francisco, the company's development operations are in Israel.

ABI research estimates that the personal robotics market is set to hit the $18 billion mark in 2015. According to RobotAppStore estimates, based on figures provided by UNECE, IFR, ABI Research and BCC Research, more than 30 million programmable robots have been sold to date.

Grishin Robotics founder and CEO Dimitry Grishin, co-founder and CEO of Mail.Ru Group said, "Robotics is a combination of good hardware and software -- thus, the important role of a project like the RobotAppStore in the market ecosystem is unquestionable. The concept of 'cloud robotics,' which implies ability of all robots to connect to the internet, share a common knowledge database and seamlessly upgrade their functions in real-time, is a soon-to-be future; one reminiscent of the of personal computer industry. We believe that the strong team behind RobotAppStore coupled with their ability to leverage the advantages of having strong community already built around the product, can make this future closer." Inbar said, "The support provided by Grishin Robotics is a great vote of confidence in our plans for the company. It shows their belief in our vision and the importance of the marketplace for robotics applications. The robotics industry has reached its tipping-point with broad market acceptance, usability of robots, and the ability to extend the robots' capabilities. Being a part of Grishin Robotics' portfolio provides high synergy with other robotics companies and better resource utilization. We are excited to use this funding to secure our place as the market-leader of the consumer and educational robot-apps industry. I would like to thank our community of developers, and invite awesome and creative developers to join us!" ___ (c)2012 the Globes (Tel Aviv, Israel) Visit the Globes (Tel Aviv, Israel) at www.globes.co.il/serveen/globes/nodeview.asp fid=942 Distributed by MCT Information Services

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