KPL
(KPL/Yonhap) Samsung Electronics Co. said Tuesday it will become the largest shareholder in a South Korean robotics startup, Rainbow Robotics, as part of its push for advancing robotics technologies including humanoid robots.
(KPL/Yonhap) Samsung Electronics Co. said Tuesday it will become the largest shareholder in a South Korean robotics startup, Rainbow Robotics, as part of its push for advancing robotics technologies including humanoid robots.
The tech giant increased its stake in Rainbow Robotics to 35 percent by exercising a call option on its initial 14.7 percent holding, the company said. Samsung Electronics had invested 86.8 billion won (US$59 million) in the startup in 2023.
With this increase, Samsung Electronics holds the largest stake in the startup, which will be incorporated as a subsidiary under its consolidated financial statements, the company added.
Rainbow Robotics, founded in 2011 by researchers from the Korea Advanced Institute of Science & Technology, specializes in humanoid robotics technologies. The founders have developed Hubo, South Korea's first two-legged walking robot.
Samsung Electronics said it will combine its artificial intelligence and software capabilities with Rainbow Robotics' expertise to accelerate the development of intelligent, advanced humanoids.
The company also established the Future Robotics Office to drive innovation in robotics and secure competitiveness in technologies that could transform robotics into a key growth engine for the future.
KPL
