his Tuesday, Samsung Electronics announced that it has become the biggest shareholder in Rainbow Robotics, a South Korean company with a robotics-making business.
So, compared with the initial stake of 14.7%, the company has increased its Samsung shareholding up to 37% with a company investment of about $181 billion.
Samsung Electronics company has initially invested in the South Korean company in 2023, due to the fact that it planned to invest more in robotics advancements and also to develop complex humanoid robots.
In their recent press release, the Samsung Electronics company, also based in South Korea, has officially made the investment announcement but chose to not make public the real investment figures. According to Reuters, the actual Samsung company investment in the robotics company was up to KRW 267 billion which is equivalent to $181 million, becoming the largest shareholder of Rainbow Robotics.
It seems that based on this new big investment, Samsung plans to bring improvements to the overall robotics development and also speed up the creation of the humanoid robot. It’s important to mention that from now on the Rainbow Robotics company will be considered a subsidiary of Samsung Electronics and this arrangement will be likely closed early next year.
According to Rainbow Robotics, the company plans to set up an office in the company which will report directly to the chief executive officer. Additionally, the deal allows Rainbow Robotics to top into Samsung’s global network to expand on international markets.
Rainbow Robotics was founded in 2021 by some researchers from the Korean Advanced Institute of Science and Technology Center. Since then, the company focused on developing dual-arm manipulators and autonomous mobile robots that are especially designed to handle logistics and manufacturing activities. Right now, the South Korean-based company only has 86 employees.
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Even more so, Dr. Jun-ho Oh, the former biggest shareholder and also the founding member of the company, will continue with Samsung Electronics as a leader of the newly established Future Robotics Office in order to serve as the office advisor.
Samsung Electronics seems to be the last big company that enter the humanoid robotics market due to the fact that other companies such as Microsoft and OpenAI are already planning to create and develop robots based on their existing technology. Also, Tesla displayed a couple of months ago its own technology of humanoid robots at the “We, Robot” event.
We have to wait and see how Samsung Electronics plans to use advanced technology to create complex humanoid robots. Stay tuned for updates!
By
Eva Robinson
•
December 31, 2024 3:00 PM
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