ElectroNeek Robotics Robotic Automation

The electroNeek company (Robotizirovannaya Avtomatization LLC) is founded in May, 2018. The company specializes in development of the RPA platform of the same name.

2020

Attraction of $2.5 million investments

On March 26, 2020 it became known of attraction of investments by ElectroNeek company in the amount of $2.5 million. As the main investor according to the results of a sowing round fund 645 Ventures acted. The Russian investment fund I2BF, YellowRockets accelerator, angel investors Sergey Dashkov and Anton Litvyakov also participated in the transaction.

According to the Russky Venchur edition with reference to the CEO and the cofounder of ElectroNeek Sergey Yudovsky, in a year assessment of the company increased to $20 million.

It became known of attraction of investments by ElectroNeek company in the amount of $2.5 million

As of March 26, 2020 the number of staff of ElectroNeek is more than 30 developers and automation specialists. Offices of a startup are opened in Moscow and San Francisco.

The software of ElectroNeek uses bots for accomplishment of routine tasks. Automation allows to increase rates of document handling to 100 times and to save 6-10 million rubles on one business process, counted in a startup.

The company notes that automation of routine processes due to implementation of program robots promptly gains popularity. So far the market of program robots is rather small, but grows quicker than any other segments of the software market.

The first robots in the country we began to implement in 2017. Later we created the full-fledged training materials in Russian and trained RPA a huge number of the companies. Our product was created for small and medium business, but not for banks and corporations as competitors also are aimed at this segment (UiPath, Automation Anywhere). The choice of audience at once set the tone for all development, a business model and a scale of charges — Yudovsky reported.

Earlier ElectroNeek underwent selection in an accelerator of PwC and attracted $150 thousand from an accelerator of Y Combinator which converted into 7% of a share. $650 thousand more, according to Crunchbase, were invested by other investors. Entered their number the angel investor Tony Urban and the Moscow Softline Venture.^[1]

2019

Attraction of $0.5 million investments

On June 11, 2019 it became known that the Russian startup on automation of office work of electroNeek Robotics announced attraction of a round of investments in the amount of $0.5 million.

The main product of the company is RPA- the platform electroNeek which allows to distinguish and read out contents of various documents, for example accounts or agreements. But the main thing, the solution provides transfer read data as in corporate systems, including cloud, and in agreements and reports. Such functionality seriously optimizes work of office workers: as developers of the platform specify, it is about a possibility of automation of 80% of the repeating activities for computer which are executed manually by workers of sales departments or finance. At the same time the possibility of the description their detailed instruction remains the main condition for automation.

Funds Softline Venture Partners, I2BF Global Ventures and YellowRockets.vc were among investors of this round. Also the group of angel investors invested in a startup. As the vice president for investments Softline and the head of Softline Venture Partners fund specifies Elena Volotovskaya, similar robotic solutions become more and more demanded around the world.

the World market of RPA in 2018 made $600 million, and by 2022 will reach $3 billion,

As the founder and the CEO of electroNeek Robotics company Sergey Yudovsky specifies, the command of a startup is going to spend the involved investments for fixing in the markets not only Russia, but also Kazakhstan and the USA. Means will be aimed also at the development of software solutions of the company.

For June, 2019 quite wide range of clients from small and medium business to corporations uses the solution. Since 2019 the solution of the company became available to clients in international market^[2].

Notes

Official start of sales

The official start of sales of the products electroNeek took place on February 1, 2019.

As of February, 2019 the head office of the company is located in New York, the USA. Also electroNeek have an office in Silicon Valley and office of development in Moscow. In a command of the company specialists who became pioneers in the field of implementation of RPA in Russia work.

Passing of selection to an accelerator of PwC

In February, 2019 the electroNeek company underwent selection in an accelerator of consulting company PwC and got access to long-term examination of the large companies. As of February a priority — development of a partner network of integrators which already aims at one hundred companies from different regions of Russia.