Eiratech Robotics gets €2m in fresh funding
Published 10/03/2016 | 02:30
Dublin-based firm Eiratech Robotics has raised €2m from a Russian investor.
The company, which was founded by Russian nationals, develops stocking systems that are used by businesses. It already has a number of Russia-based investors. The company is headed by chief executive Alexey Tabolkin. He was unavailable to speak this week.
Company filings show that Moscow-based Alexandr Boyko has invested just over €2m in the company, giving him a sizeable share of the business.
Apart from its Dublin-based directors, all of the shareholders in Eiratech are based in Moscow. The company has, however, been identified by Enterprise Ireland as a high potential startup.
Eiratech has a number of staff developing its systems from its base at Blanchardstown in the capital.
Its products are typically used in warehouse environments, with robots selecting requested items from racks.
Eiratech boasts that it transforms the burden of stock replenishment into a key competitive advantage.
"Not alone can we reduce the cost for customers," it says, "but the productivity of personnel will be dramatically increased, improving employees' motivation and job satisfaction."