Samsung to become largest shareholder in South Korean robotics startup

Seoul: Samsung Electronics said on 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 per cent by exercising a call option on its initial 14.7 per cent holding, the company said. Samsung Electronics had invested 86.8 billion won ($59 million) in the startup in 2023, reports Yonhap news agency.

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, specialises 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.

Meanwhile, the company will unveil its new home appliances lineup powered by artificial intelligence (AI) technology at the upcoming CES next month.

The lineup, comprising the new Bespoke refrigerator, washer and dryer applied with AI home solutions, will be showcased at CES 2025, set to take place at the Las Vegas Convention Center from January 7-10, according to the Korean company.

AI home refers to Samsung’s solution of connecting all of its home appliances to its AI-powered SmartThings connectivity platform, allowing remote monitoring and control of the products, reports Yonhap news agency.

The updated AI home technology will enable users to control the power and settings of all connected home appliances in their houses from the touch screen on any of the products, Samsung explained.

–IANS