6 June 2019, St. Petersburg. — The Far Eastern High Technology Fund (FEHTF), during the St. Petersburg International Economic Forum, signed a cooperation agreement with Promobot, the manufacturer of humanoid robots. According to this agreement, the Fund will contemplate investing in the company and will also help it develop business in Russia’s Far East as well as expand into the markets of Southeast Asia.

Promobot is the largest manufacturer of humanoid robots in Russia, Northern and Eastern Europe. Robots serve as administrators, guides, concierges, promoters and consultants. They can be found in banks, MFCs (Multifunctional Centers for Рrovision of State and Municipal Services), airports, residential and shopping centers, museums in 34 countries.

The signed framework agreement of intentions, in particular, implies the joint development in Vladivostok of a project to manufacture autonomous humanoid robots and launching of the Center for AI Development. Additionally, the Fund will help the company in finding a partner to promote its robotics products and technologies in the markets of Southeast Asia.

The Fund will also assist the company in attracting a potential investor at the next investment round, having competences in supporting the successful marketing of robotics products worldwide.

“Today many development institutions indeed are rallying around Promobot, including investment funds. I am glad that we will be able to build cooperation with the Far East High Technology Fund and “let” our colleagues chip in in the equity capital. Investments will enable us to develop new robotics products. First and foremost, this will involve collaboration with experts in 3D modelling, and, secondly, we will invest part of the money in the Vladivostok production site. We look at this location as a good base for further expansion into Asian markets,” said Alexey Yuzhakov, Chairman of the Board of Directors Promobot.

“Promobot has been successful in becoming a dynamically developing company in virtually the emerging robotics market. At present Promobot has a unique opportunity to become the leader in this market, not only in Russia, but also on an international scale, and we, for our part, are planning to help the company in expanding eastwards. Creating the AI Development Center in Vladivostok will open up new prospects for the company in R&D necessary for manufacturing of new-generation robots,” said Ruslan Sarkisov, CEO, FEHTF.