UAE - Mubasher: The UAE-based Micropolis Robotics, specialised in the autonomous vehicle industry, has secured $4 million in a seed round investment by the US venture company, Mindrock Capital.
Micropolis will use the investment's proceeds in strengthening commercial production capabilities and supporting continued research and development, according to a press release on Thursday.
The CEO of Micropolis Holdings, Said Egor Romanyuk, said: "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."
Meanwhile, the Managing partner of Mindrock Capital, Grigorii Trubkin, remarked: "We are always looking for new investment opportunities, especially those in which we are able to leverage our sector specific experience to enhance growth."
