Morgan Lewis has represented the Far East High Technology Fund on its RUB 200 million investment in Motorica, a Russian manufacturer of high-tech hand prostheses.
Financial details of the transaction were not disclosed.
According to Morgan Lewis, Motorica develops the prostheses and rehabilitation systems using artificial intelligence, virtual reality, and Internet of Things technologies. According to the firm, the funds will be used by Motorica to “further develop and improve its prosthetic upper limbs, develop the Attilan tele-rehabilitation platform and invasive technologies, scale-up production, and grow its service network in Russia and in target global markets.” Furthermore, the firm reports, Motorica plans to open an R&D office and a research center in the Russian Far East in conjunction with the Medical Center of the Far Eastern Federal University.
The Morgan Lewis team included Partner Artem Tamaev and Associate Emil Shagiakhmetov.