New Grishin Robotics fund to back entertainment and edtech

20 June 2020

Grishin Robotics, a VC fund owned by the Mail.ru Group co-founder Dmitry Grishin, raised $100m for the company’s new fund called Grishin Robotics Fund II, Vc.ru reported.

A number of institutional and private players from the U.S. and Europe were among investors in the consortium. No specific information on the deal has been disclosed.

The new fund is already active in North America. Its first portfolio company was Ziva Dynamic, the Canadian developer of Hollywood’s most advanced character simulation software used in movies like Game of Thrones, Hellboy and some others. Grishin Robotics Fund II will reportedly continue its work in the region in the seed and round A funding rounds, investing between $3m and $5m per project.

Commenting on his decision to invest in start-ups in one geographical area, Dmitry Grishin said that he believes “it’s critical to focus on the early stages and all that is worth looking for develops in Silicon Valley”.

Unlike the initial Grishin Robotics fund set up in 2012, which has invested in robotics and Internet of Things technologies, this new fund will invest in online games and other entertainment solutions, in foodtech, in services that boost personal productivity and teamwork, in edtech, and in fitness solutions.

Mr. Grishin added that his second fund will prefer investment in projects that would show adjacencies between robotics and the above new set of tech areas.

Source
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