2 days Ago By Varun Godinho
Samsung Electronics has more than doubled its stake in Korean robotics startup Rainbow Robotics to now become the startup’s largest shareholder. It increased its holding from 14.7 per cent to 35 per cent for around A$291 million (KRW 267 billion).
Samsung said that the move was part of its plans to accelerate future robot development including “humanoid robots.” Samsung plans to utilise Rainbow Robotics’ collaborative robots, dual-arm mobile manipulators, and autonomous mobile robots for manufacturing and logistics automation tasks. With the help of machine learning and AI technologies, the robots can improve their work capabilities and analyse situational data and environmental variables that occur in the field.
With Rainbow Robotics now becoming a subsidiary of Samsung, the startup is expected to actively access overseas markets utilising Samsung’s global sales infrastructure. Rainbow Robotics was founded in 2011 by researchers from the Korea Advanced Institute of Science and Technology, and specialises in humanoid robotics technologies. The founders had developed Hubo, Korea’s first two-legged walking robot, back in 2005.
Its focus on robot development has resulted in Samsung also now establishing a Future Robotics Office which reports directly to its CEO. Dr. Jun-Ho Oh, a founding member of Rainbow Robotics, will serve as the advisor to Samsung and head of the Future Robotics Office after retiring from Rainbow Robotics.
Samsung will also form a synergy council with Rainbow Robotics. The council will oversee collaborative efforts in developing robotics technologies, formulating business strategies and identifying market opportunities. Samsung previously invested around A$94.
91 million (KRW 86.8 billion) in Rainbow Robotics in 2023. Earlier investments included those in January 2022, when it acquired a 10.
22 per cent stake and another round of investment March 2022. Apart from Samsung, Microsoft and OpenAI are planning to use their tech for a humanoid robot, and Tesla recently demonstrated live interactions with its humanoid robots called Optimus..
