Samsung pours additional $181M into Rainbow Robotics with eye on future

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Samsung pours additional $181M into Rainbow Robotics with eye on future

Published: 31 Dec. 2024, 17:23 Updated: 31 Dec. 2024, 17:26

JIN EUN-SOO
[email protected]

Audio report: written by reporters, read by AI

Hubo developed by a research team at KAIST [RAINBOW ROBOTICS]

Samsung Electronics is doubling down on humanoid robotics, becoming the largest stakeholder in Rainbow Robotics, a Korean startup specializing in the likes of service bots and humanoids.

The Korean tech giant announced Tuesday that it injected an additional 267.5 billion won ($181.5 million) through a call option to expand its stake from 14.7 percent to 35 percent, according to a regulatory filing.

Last year, Samsung Electronics invested 86.8 billion won in the robotics company.

“By combining Samsung Electronics’ AI and software expertise with Rainbow Robotics’ robotic technology, the collaboration aims to accelerate the development of intelligent, advanced humanoids,” the tech giant said.

The startup, founded in 2011 by a research team from the Korea Advanced Institute of Science and Technology (KAIST), is known for developing Korea’s first two-legged humanoid robot, Hubo.

Rainbow Robotics has yet to turn a profit, reporting an operating loss of 4 billion won as of the third quarter this year, with revenue totaling 9.7 billion won.

Samsung also revealed plans to establish a new office dedicated to future robotics, reporting directly to the CEO. Dr. Oh Jun-ho, the founder of Rainbow Robotics and an emeritus professor at KAIST, will lead the division, providing insights into robotics technology and industry trends.

Global interest in humanoid robots has surged in recent years. The humanoid robot market is projected to reach $38 billion by 2035, a significant increase from the previous estimate of $6 billion, according to a Goldman Sachs report.

Tesla is heavily investing in its Optimus humanoid robot, designed to handle unsafe and repetitive tasks. Hyundai Motor demonstrated its ambitions in robotics by acquiring a controlling stake in Boston Dynamics for $1.1 billion in 2021.

Nvidia has also announced plans for a humanoid-focused computing system called Jetson Thor, set to launch in the first half of next year.

BY JIN EUN-SOO [[email protected]]