The Russian Direct Investment Fund (RDIF) and the Far Eastern High Technology Fund (FEHTF) have invested €4.4 million into Skolkovo Foundation resident Motorika, a leading Russian developer and producer of high-tech prosthetics and rehabilitation systems, which will be used to develop the company’s presence in Russia, particularly the Far East, and on international markets.
The first €1.1 million (100 million rubles) came in 2019 from the RDIF; this year, the RDIF invested a further €1.1 million while the FEHTF invested €2.2 million.
Motorika prosthetics. Image: Sk.ru.
“Our Russian clients’ practical experience has allowed us to create a product that is in-demand on the world market,” said Andrey Davidyuk, the chairman of the board of directors of Motorika. “Our competitive advantage is multifaceted. On the one hand, we are actively increasing the manufacturability of the product and integrating artificial intelligence, virtual reality and internet of things technologies. On the other hand, we are continually improving the client-focus of our processes and also the methods in assisting our clients at all stages of rehabilitation. We see potential for significant growth. The expert support from the Skolkovo Foundation for us is extremely valuable – participation in the International ScaleUp program helped our team learn a lot of new things and to prepare for growth.”
The investment will be used both for product development and for scaling up its production and expansion of the service network in Russia and in target international markets: India, the Asia-Pacific region, the Middle East, and the European Union. Motorika also plans to open an R&D office and a research center in the Far East jointly with the Far Eastern Federal University (FEFU) medical center. The Skolkovo Foundation supported the investment round in the framework of the International ScaleUp program.
“We actively assist companies in the International ScaleUp program in searching for and implementing growth strategies and entry into export markets, but also in attracting resources for international development,” said Alexey Mozhar, the director of international markets and investors at Skolkovo. “It allows you to spin the growth flywheel; a quality development strategy that makes a company valuable for investors and investments in its turn helps it gain a foothold in large international sectors, increasing the company’s capitalization. Motorika has successfully launched such a mechanism. Its world-class product and ecosystem are both appreciated by investors and clients, and the investment round will allow the company to expand its sales channels and entrench itself in a leading position in its sector.”