Dec. 31 (Bloomberg) -- South KoreaRobotics Company Rainbow Robotics said in a regulatory filing on Tuesday.SamsungElectronics has become the company's largest shareholder.
According to the document, Samsung spent 267 billion won (note: currently about 1.322 billion yuan) to buy a large stake in Rainbow Robotics. Previously, Samsung Electronics was already Rainbow Robotics' second-largest shareholder, holding 14.71% of the company's shares, or about 2.85 million shares. Prior to this transaction, Rainbow Robotics' largest shareholder was its founder Oh Jun-ho and his affiliated entities.
Notably, in a separate statement, Samsung Electronics simultaneously announced that theThrough this acquisition, a "Future Robotics Office" is being established, reporting directly to the CEO.
Rainbow Robotics is a South Korean developer of intelligent robots that develops, manufactures and sells collaborative robots. Its products are capable of assisting or replacing human labor in performing simple and repetitive tasks.
Rainbow Robotics' flagship product is the RB-Y1 mobile dual-armed robot, the world's first research platform for AI specialists, which combines a wheeled robotic base with a humanoid dual-armed manipulator on top to maneuver through a variety of environments. With seven degrees of freedom in its arms, the robot can easily carry up to 3 kilograms of weight and reach a top speed of 2.5 meters per second. The robot is not only suitable for industrial manufacturing and logistics, but also has a wide range of home applications, such as heavy lifting, production line work and housework, etc. Rainbow Robotics' RB-Y1 is available for pre-order for $80,000 for research robots and $120,000 for commercial robots (excluding VAT).