Monday, December 11, 2017

RoboCV gains $3 million in investments

Artificial intelligence system designer RoboCV recently gained $3 million in investments to further the development of its autopilot vehicle.

RoboCV has equipped the autopilot vehicles with its innovative X-Motion intellectual autopilot system that enables vehicles to operate in warehouses and factories without any assistance. The fully autonomous system is completely integrated into the factory’s logistics.

X-Motion directly connects to the vehicle’s acceleration, brakes and steering to maneuver the vehicle without a driver. Still, the system has the attributes of a driver: it “sees” with vision sensors, builds mathematical models of the environment, chooses preferred routes and maneuvers obstacles.

The space cluster recently completed pilots of robotized electric warehouse vehicles at two Russian factories: Volkswagen and Samsung.

The investments will be used to further develop additional autopilot systems, including implementing a full-scale robotics project for warehouses like Volkswagen’s, Samsung’s, and other companies. By the end of 2015, RoboCV hopes to see several warehouse machines operating under X-MOTION.

The investments will also be used to collaborate with STILL GmbH’s intelligent control called intralogistics. RoboCV and STILL plan to create a line of electric trucks with X-MOTION pre-installed for domestic markets by the end of 2015 and on the global market in 2016.

“I think that in two or three years we will see explosive growth in the distribution of vehicle autopilot products around the world,” RoboCV's co-founder and commercial director Dmitry Smirnov said.

As a Skolkovo Foundation resident, RoboCV was established in 2011 and has been among Robotics Business Review’s top 50 most influential companies in the world’s robotics industry. The new investments are from VTB Capital Investment Management, Almaz Capital, LETA Capital, I2BF Global Ventures and Columbus Nova.

Organizations in this story

Skolkovo Foundation 4 Lugovaya St. Moscow

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