Samsung announced it recently invested in South Korean robotics firm Rainbow Robotics and increased its stake to 35% in the company. The smartphone maker first invested in the robotics firm in 2023. It plans to strengthen its robotics foundation and develop advanced humanoid robots.
Samsung Electronics invests $181 million to increase its stake in Rainbow Robotics to 35%
In its press release, Samsung Electronics announced that it has increased its stake in Rainbow Robotics to 35%. While the company didn't reveal the actual investment figures, Reuters claims the investment was around KRW 267 billion (~$181 million). Samsung is now the largest shareholder in the company.
With this investment, Samsung plans to improve its robotics development foundation and accelerate the development of advanced humanoid robots. The company intends to synergize Samsung's AI prowess with Rainbow Robotics' strength in robotics technologies.
Rainbow Robotics was founded in 2011 by researchers from the Korea Advanced Institute of Science & Technology’s (KAIST) Humanoid Robot Research Center. They were the ones who developed South Korea's first two-legged humanoid robot ‘Hubo.' It makes humanoid and industrial robots.
Samsung said it will set up a synergy council with Rainbow Robotics to strengthen its position in the global robotics industry. This council will foster the growth of both companies by developing future robotics technologies, assessing market demand, and improving core business strategies.
The South Korean tech giant has established the new Future Robotics Office, and it will directly report to the CEO. After retiring from Rainbow Robotics, Dr. Jun-Ho Oh, Rainbow Robotics' founding member and an honorary professor at KAIST, will serve as an advisor to Samsung and head the Future Robotics Office.
Samsung has already showcased its wearable robot, the EX1, in 2023. It also showcased Bot Fit, its wearable assistive robot, at CES 2024. The company also showcased Ballie, a prototype robot that can help around the house. In the future, the company wants to commercialize robots of all kinds.
Image Credits: Rainbow Robotics (YouTube)
