Marvelmind Robotics, a Russian startup developing an indoor GPS technology, has won the first prize of 5 million yuan ($740,000) at the Slush Shanghai contest for the best seed-stage companies. The startup is a resident of the space cluster of Skolkovo, the international tech hub under completion on the outskirts of Moscow.
The startup’s high-precision navigation technology is intended for use inside buildings with the help of autonomous robots and copters, or in virtual reality. The company claims that its technology has a two-centimeter accuracy.
The technology has already been sold in 30 countries, according to the company.
Marvelmind Robotics also won an invitation and travel tickets to the Slush event in Helsinki on November 30 – December 1. More than 40 Skolkovo resident companies will be showcased at this event.
Earlier this year Wicron, another Skolkovo robotics startup, was also awarded first prize at a Chinese industry event. The startup presented a remote presence bot, christened ‘Webot,’ which allows users to observe the bot’s surroundings from their location via the Internet, an interact with people in those surroundings accordingly.
Source: Skolkovo Foundation
