Financial services firm MCB Group has invested an undisclosed amount in Partnering Technologies, a French high-tech printing and robotics business run by Ramesh Caussy, who is the Mauritian inventor of Diya One, a robot that can analyse and purify indoor air, according to a statement.
MCB Group has invested through MCB Equity Fund, which is managed by MCB Capital Partners, a subsidiary of MCB Capital Markets, and provides expansion and buy-out capital to businesses.
Sales of Diya One, the first neuro-inspired robot that has made an impression at the COP 21 in Paris, are scheduled for the first quarter of 2016 and the French ministry of ecology, sustainable development and energy has already placed an order.
Equipped with artificial intelligence, the robot moves around on its own, eliminating particulate and chemical pollution. It can work in museums, public buildings, schools and offices.
“We have made the first step for raising capital with the entry of the MCB Group, a key player in Mauritius,” said Caussy, chief executive of Partnering Technologies.
The robot is being supported by the European Union’s SPARC programme dedicated to research and innovation and whose aim is to make Europe the global leader in robotics by 2020.
“The multibillion-dollar global market for robotics, long dominated by industrial and logistics uses, has begun to see a shift towards new consumer and office applications,” the statement said.
MCB Equity Fund was launched in 2005 with a committed capital of $100 million.
“We have taken the opportunity to invest in a young and innovative business working in a promising market and that has shown, through Diya One, its ability to improve our lives.” Pierre Guy Nol, chief executive of MCB Group, said.
To date, the fund has completed over 45 transactions, including four exits.