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Samsung pays $181M to become largest shareholder of Rainbow Robotics
In a surprising move, Samsung Electronics has announced that it will be increasing its stake in South Korea-based robotics maker Rainbow Robotics from 14.7% to 35%. This massive investment of KRW 267 billion (approximately $181 million) makes Samsung the largest shareholder of Rainbow Robotics.
According to reports, Samsung plans to use this increased stake to accelerate the development of humanoid robots at Rainbow Robotics. The company aims to bolster its robotics department and further expand its capabilities in the rapidly growing field of artificial intelligence-powered robots.
The deal is expected to be completed by February 2025, following which Rainbow Robotics will become a subsidiary of Samsung Electronics. This integration will reportedly enable Samsung to establish a Future Robotics Office, which will directly report to the company’s CEO. The new office will focus on accelerating innovation in robotics and AI.
Rainbow Robotics was founded in 2011 as an initiative by researchers at the Korea Advanced Institute of Science & Technology (KAIST) Center. Since its inception, the company has developed a range of innovative robotic solutions, including dual-arm mobile manipulators and autonomous mobile robots for manufacturing and logistics applications. Currently, Rainbow Robotics employs 86 people.
As part of this deal, Dr. Jun-ho Oh, the founding member and former largest shareholder of Rainbow Robotics before this investment, will remain with the company to lead a new initiative called the Future Robotics Office at Samsung. He will also continue to serve as an advisor to the company.
This strategic move by Samsung underscores its commitment to expanding its presence in the robotics industry. With the acquisition of Rainbow Robotics, Samsung is poised to further solidify its position as a leading player in AI-powered innovations.
As reported earlier, numerous other tech giants have been exploring humanoid robot technology in recent times. Microsoft and OpenAI are reportedly developing their own humanoid robots, while Tesla showcased its Optimus robot prototype earlier this year. Additionally, Nvidia plans to release a new line of compact computers for humanoid robots called Jetson Thor in the near future.
Samsung’s move is significant as it highlights the company’s renewed focus on robotics, which was initially announced in 2022. The company emphasized that robotics would be one of its key areas of concentration going forward. This strategic decision aligns with Samsung’s long-term vision to further diversify its offerings and maintain a competitive edge in the ever-evolving tech landscape.
The acquisition will give Rainbow Robotics access to Samsung’s extensive global network, enabling it to expand its reach into international markets.
Source: techcrunch.com
