Grishin Robotics Invests in Hardware Incubator Bolt

Grishin Robotics Invests in Hardware Incubator Bolt 
NEW YORK, NY -- (Marketwire) -- 02/20/13 --  Grishin Robotics
(http://grishinrobotics.com), the first venture capital firm in the
world that is focused on consumer robotics, announces its investment
into the Boston-based hardware incubator Bolt (http://www.bolt.io/),
which helps hardware startups (including robotics and connected
devices) with seed capital and an extensive mentorship program. 
Along with Grishin Robotics, there are another two strategic partners
-- Logitech and Autodesk -- that also agreed to support Bolt's
startups with capital and parts/services. Among the prominent angel
investors, partnered with Bolt, are Mick Mountz (Kiva Systems,
acquired by Amazon) and Brad Feld (Foundry Group, investor in
companies such as MakerBot and FitBit). 
Over the course of the next two years, Bolt will accept 25 hardware
startups into its program. The application process for the first
batch opens today at www.bolt.io and will last for 2 months -- 10-15
companies are going to be accepted for the 6-month program. Projects'
founders will receive seed capital, access to office and prototyping
facilities, and extensive support from a full-time engineering/design
staff and a wide array of hardware-centric mentors. Bolt's program is
focused on key aspects of ideation and development of any successful
mass-market hardware products, including manufacturing and
commercialization.  
"The key to the upcoming consumer robotics revolution, I believe, is
in the startup ecosystem. Talented hardware entrepreneurs, dreaming
about a new generation of smart devices, do not have today a
supporting community around, that is as developed as software
developers do. That's why we have decided to invest in Bolt -- this
is an investment into the market's future," said Dmitry Grishin,
founder of Grishin Robotics and co-founder of the Mail.Ru Group. 
"Hardware startups are typically at a major disadvantage compared to
their software counterparts," said Bolt's Managing Director Ben
Einstein. "But this disadvantage means it's ripe for disruption.
We've built a model that changes the equation and enables startups to
get capital -- efficient hardware to market at unprecedented speed."  
About Grishin Robotics 
Grishin Robotics is a global investment company with a mission of
advancing innovation in robotics for the mass consumer market.
Grishin Robotics is focused on investing in personal robotics
technologies. The firm is led by Dmitry Grishin, co-founder & CEO of
Mail.Ru Group.  
For more information, or to submit your company for investment
consideration, visit http://www.grishinrobotics.com.  
Media Contacts
Valery Komissarova
Business Development Director 
valery@grishinrobotics.com 
+1 (646) 291-6978 
Matt Burke
Bolt 
matt@bolt.io
+1 (603) 315-0618 
 
 
Press spacebar to pause and continue. Press esc to stop.