Wednesday, March 20, 2013
€100 million for French robotics
Wired UK reports that the French robotic scene is to receive a serious financial boost, with 250 companies receiving a total of €100 million (£85 million) in funding. Addressing the European Robotics Forum in Lyon, France's minister for industrial renewal Arnaud Montebourg stated that the new funds will help make up for "lost competitiveness" in the French robotics sector, and would see the nation become an industry leader by 2020.
Bruno Bonnell, ex Atari CEO, founder of French Federation of service robots SYROBO and actual CEO of Robopolis launched a 60 million Euro (80 million USD) investment fund named Robolution Capital in 2012 to support the development of Robotics in Europe. It was the First European investment fund dedicated to service robot and will invest in 30 startups, ranging from 300,000 to $3 million for each. The fund is supported by Orkos Capital and CDC Enterprises, a public group and long term investor serving general interest and the economic development of the country.