UAE's Micropolis Robotics Secures $4M to Develop Autonomous Vehicles
The investment will be used to boost Micropolis Robotics’ production capabilities, and support continued R&D and business development.
On a mission to deliver the next generation of autonomous vehicles, UAE-based Micropolis Robotics is tapping into the rapidly evolving AV industry, securing a $4 million seed round from San Francisco-based VC firm Mindrock Capital that will help it penetrate the marketplace. The investment will be used to boost the startup’s production capabilities, and support continued R&D and business development.
“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.
Since its founding back in 2014 in the Dubai Internet City, Micropolis dedicated years of research and development towards identifying innovative ways to make transportation safer and more accessible. In 2020, the startup joined forces with Dubai’s police force to establish its final prototype before two deployment-ready models were delivered to the authorities in 2021.
“We are always looking for new investment opportunities, especially those in which we are able to leverage our sector-specific experience to enhance growth,” Grigorii Trubkin, managing partner of Mindrock Capital, said. “We believe Micropolis has tremendous growth potential and will become one of the future pioneers in the AV industry”.
This investment marks Micropolis’ latest milestone in delivering mobility-as-a-service to dense urban environments.