- UAE-based Micropolis Robotics has raised a $4 million Seed round led by US-based Mindrock Capital.
- Founded in 2014 by Egor Romanyuk, Micropolis designs, develops, and manufactures autonomous utility robots.
- The new investment will be used to accelerate Micropolis’ commercial production capabilities as well as fund R&D and business development.
Micropolis Robotics, a UAE company focused on the rapidly expanding AV industry, is announcing a $4 million Seed round investment by San Francisco based venture company Mindrock Capital.
Mindrock Capital invests primarily in emerging tech leaders utilising an activist approach to capitalise on existing momentum and accelerate growth.
“We trust that Mindrock Capital, with its deep expertise and successful track record of bringing to market several projects in the AI and AV space, leaves us well-positioned to deliver the next generation of autonomous vehicles at Micropolis Robotics,” said Egor Romanyuk, CEO of Micropolis Holdings.
Managing partner of Mindrock Capital, Grigorii Trubkin stated, “We are always looking for new investment opportunities, especially those in which we are able to leverage our sector-specific experience to enhance growth. Having a good number of unicorns in our portfolio, we know exactly what needs to be done for our portfolio companies to achieve that milestone and how we can help a company to succeed. We believe Micropolis has tremendous growth potential and will become one of the future pioneers in the AV industry”.
Micropolis has dedicated years of research and development, identifying new ways to make functional transportation safer, cleaner, and more accessible.
The proceeds of the $4 million investment will be used to accelerate commercial production capabilities as well as fund continued R&D and business development.