Samsung to Increase Stake in Rainbow Robotics, Strengthening Presence in AI-Powered Humanoid Robot Development
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Samsung To Raise Stake In Rainbow Robotics, Becoming Korean Robot Maker’s Top Shareholder
In a significant move, Samsung Electronics has announced its intention to increase its stake in Rainbow Robotics, a leading South Korean robotics company. According to regulatory filings, the tech conglomerate plans to purchase an additional 20.63% stake in Rainbow Robotics for over 267 billion won (approximately $180 million), effectively becoming the company’s largest shareholder.
This significant investment marks Samsung Electronics’ next step in strengthening its foothold in the burgeoning AI-powered humanoid robot space. The company first acquired a 10.22% stake in Rainbow Robotics in January 2023, and this latest move solidifies its position as a major player in the industry.
Rainbow Robotics, founded in 2011 by a team from KAIST (Korea Advanced Institute of Science and Technology), has been at the forefront of robotics innovation. Notably, the company developed South Korea’s first two-legged walking robot, Hubo, back in 2005.
Upon completion of this transaction, Rainbow Robotics will become a subsidiary of Samsung Electronics, with its financial results being consolidated into Samsung’s earnings. This move is expected to significantly enhance Samsung’s AI and robotics capabilities, enabling it to accelerate the development of intelligent advanced humanoids.
By combining Samsung’s AI and software expertise with Rainbow Robotics’ cutting-edge robotics technology, the collaboration aims to drive innovation in manufacturing and logistics automation tasks. The robots developed through this partnership will have the ability to learn and analyze situational data and environmental variables, further improving their work capabilities using AI algorithms.
It is worth noting that other major South Korean conglomerates have also been expanding their presence in the robotics sector. For instance, Hyundai Motor acquired a controlling stake in Boston Dynamics from SoftBank Group back in 2009, valuing the company at approximately $1.1 billion. Additionally, Doosan Group recently listed its collaborative robots unit, Doosan Robotics, which raised $312 million in its initial public offering (IPO) last year.
Samsung’s bold move into the robotics space further solidifies the tech giant’s position as a key player in this rapidly evolving sector.
Source: www.forbes.com
