The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, is investing up to RUB200 million in Motorica, a developer and producer of high-tech prosthetic appliances, which employ artificial intelligence (AI).
The transaction is part of the Investment Lift mechanism aimed at stimulating the growth of middle-sized non-resource companies with export potential. It will support Motorica’s business development including the growth of its export potential by increasing the supply of high-tech prostheses to international markets. The investment in Motorica also contributes to achieving the goals set in the annual Presidential Address to the Federal Assembly of 20 February, 2019, including facilitating the growth of investment in projects using AI, the Internet of Things, robotics and big data.
By 2021, Motorica plans to develop artificial muscles for fine motor skills of fingers with AI-based control function, and by 2025 it plans to launch a prosthesis that will completely simulate the mobility of the hand.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), says: “Investing in Motorica will enable the company to conduct large-scale research in bionic prosthetics and the use of AI and virtual reality in rehabilitative medicine. Innovative technologies and developments in prosthetics will help many people return to an active daily life regardless of age.”
Andrey Davidyuk, Chairman of Motorica, says: “Today, Motorica has more than 1,000 customers in Russia and 11 other countries. Our products are highly competitive to the ones produced by global leaders. The new investment will enable us to conduct research, develop new products and increase our product range, as well as support our international expansion.”
