A Russian entrepreneur says he hopes to speed up a robotics revolution by creating a $25 million investment fund in New York focused on personal robots. Dmitry Grishin, co-founder of the Mail.Ru Group, said the technology exists to make personal robots a reality and he hopes to fund an effort to take personal robotics from technology demonstrations to consumer products available in stores, InnovationNewsDaily reported Friday. \"Industrial robotics is pretty much developed,\" Grishin, co-creator of Russia\'s largest Internet company, said. \"Now is a good time to bring robotics to millions of people -- personal robotics related to people\'s general lives and for the mass market.\" Worldwide sales of industrial robots in 2010 totaled $5.7 billion compared with just $538 million for personal robots, the International Federation of Robotics said, but the group added it expects the personal robot market to reach $4.3 billion by 2014. The newly founded Grishin Robotics would invest about $1 million or $2 million in small- and medium-sized personal robotics companies Grishin said have trouble obtaining venture capital. \"A big problem for venture capitalists is that they focus on limited time investments [that pay off within] five to seven years,\" Grishin told InnovationNewsDaily. \"In this area, personal money is ready for risk-taking.\"
GMT 20:46 2018 Tuesday ,23 January
New app to help Indians apply for UAE jobs visaGMT 21:37 2018 Sunday ,14 January
Champagne box-sized satellite launchedGMT 21:32 2018 Sunday ,14 January
Man's best friend goes high techGMT 16:11 2018 Friday ,12 January
UAE Research Programme for Rain Enhancement Science leads the way to new scientific and technological horizonsGMT 09:35 2018 Tuesday ,09 January
SpaceX launches secretive Zuma missionGMT 21:38 2018 Friday ,05 January
Our reliance on technology is having an effect on us allGMT 07:47 2017 Sunday ,24 December
China jails VPN owner for over five yearsGMT 20:59 2017 Saturday ,25 November
Now make unlimited voice, video calls in UAE for Dh50

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor