- Acquires investment worth US$33.7 million from Praxis Capital Partners & Korea Investment Partners
- Plans to establish North America and Europe subsidiaries, aiming to expand global market footprint
- Aims for IPO in the future while strengthening R&D capability to increase global market share
Doosan Robotics announced it has become South Korea’s first to achieve an annual sales record of 1,000 units for collaborative robots (cobots). Established in 2015, Doosan Robotics has manufactured cobots using proprietary technology and has maintained the position of number one market share holder in Korea since 2018.
Doosan Robotics has also performed remarkably in global markets, becoming the first Korean company to be named as one of world’s top five cobot manufacturers. The company’s global performance now account for 70 percent of its total sales, with demand continuing to increase from markets including North America and Western Europe. The company plans to establish subsidiaries in these regions to further accelerate growth.
The company also announced it has successfully raised an investment worth US$33.7 million from Praxis Capital Partners and Korea Investment Partners, with investors valuing highly of the company’s achievements and competitiveness. Funds will be used to expand global sales base and strengthen R&D to attract additional partnerships both global and domestic. The company also plans to pursue an initial public offering (IPO) with the ambition to become a global market leader of cobots in the manufacturing and service fields.
“We’re looking forward to expediting the growth of our business with the recent funds raised,” said William (Junghoon Ryu), CEO at Doosan Robotics. “We will further enhance the competitiveness of new products and software that are mounted with our proprietary technology and strive to attain the position as number one market share holder in the global cobot market,” he added.
Meanwhile, Doosan Robotics will be exhibiting at the Consumer Electronics Show (CES) 2022 between January 5-8. This will mark the first global reveal of the company’s latest service robots including the unmanned modular robot café, DR. PRESSO and CES award-winning camera robot system, “New Inspiration. New Angle. (NINA)”.
About Doosan Robotics
Doosan Robotics, founded in 2015 by Doosan Group, creates technology for the next generation of manufacturing. Established in 1896, Doosan Group is one of the oldest and largest companies in South Korea, specializing in machinery, plant engineering and component materials. The group has 25 affiliates and 114 global entities worldwide, generating a revenue of USD 15 billion in 2020.