Samsung Electronics Increases Stake in Rainbow Robotics to Strengthen AI-Powered Humanoid Robot Development
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Samsung Electronics is set to increase its stake in South Korea-based Rainbow Robotics, a move that would make it the largest shareholder of the AI-powered humanoid robot maker.
According to a regulatory filing made by Rainbow Robotics on Tuesday, Samsung Electronics will acquire an additional stake worth more than 267 billion won (approximately $180 million) in the company. This increase in ownership would bring Samsung’s total stake to 35%, surpassing its current largest shareholder Oh Jun-ho, who founded the company along with his team from KAIST, South Korea’s leading science and technology university.
Rainbow Robotics was established in 2011 by a group of researchers from the Humanoid Robot Research Center at KAIST. At the time of its founding, the team had already made significant progress, having developed South Korea’s first two-legged walking robot, Hubo, back in 2005.
The acquisition is seen as a strategic move by Samsung Electronics to strengthen its position in the growing AI-powered humanoid robot market. The company believes that combining its own AI and software technology with Rainbow Robotics’ robotics expertise will accelerate the development of advanced humanoids capable of performing complex tasks.
As part of the deal, Samsung Electronics plans to utilize Rainbow Robotics’ collaborative robots, dual-arm mobile manipulator, and autonomous mobile robots for manufacturing and logistics automation purposes. The company is confident that these robots can greatly improve their work capabilities by learning and analyzing situational data and environmental variables through AI algorithms.
Rainbow Robotics has received significant attention recently as other major South Korean conglomerates have been expanding their robotics businesses. Hyundai Motor, for instance, acquired a controlling stake in Boston Dynamics from SoftBank Group back in 2009, valuing the company at around $1.1 billion. In October, Boston Dynamics announced a partnership with Toyota Research Institute to develop AI-powered humanoid robots.
Meanwhile, Doosan Group, South Korea’s oldest conglomerate, listed its collaborative robots unit Doosan Robotics last year. The unit raised $312 million in what was the country’s largest IPO that year.
The deal is expected to close on February 17 following government approval.
Source: www.forbes.com
