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Motorica, developer of prostheses, attracted $5.4 million for international development

January 20, 2021|
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Motorica, developer of functional upper-extremity prostheses and a Skolkovo resident, has attracted 400 million rubles (equivalent to $5.4 million) for international development.Russian Direct Investment Fund (RDIF) invested 100 million rubles (equivalent to $1.3 million) and investments of the Far Eastern Foundation for High Technologies (DFVT) amounted to 200 million rubles (equivalent to $2.7 million). In 2019, RDIF completed the first tranche in the amount of RUB 100 million. Operating on the market since 2015, Motorica started with the individual production of children's traction prostheses. Today the company produces bioelectric prosthetic gadgets with PayPass, NFC-module and other technologies.

As VC.ru was informed in Motorica, the company has more than 2 thousand clients in 12 countries of the world. The project expects the investment to enable further development in Russia and international markets, in particular in India. According to Motorica's estimates, its share in the Russian market is about 13-15%, and its revenue for 2020 is 130 million rubles (equivalent to $1.7 million).

At the end of May 2020, Motorica received the CE marking and entered the European market. Product deliveries to the EU became one-off for the developer. From 2021, the company intends to bring its entire product line to the European market.

Contacts:
Ruslan Babintsev, Executive Director of Motorica

Danil Emelin, Prosthetic Engineer of Motorica

Original (in Russian)

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