South Korea's leading collaborative robot manufacturer, Doosan Robotics Inc., is set to make its market debut, following a significant initial public offering (IPO) earlier this year. The company, established in 2015, aims to capitalize on the burgeoning collaborative robot industry with an expansive growth strategy.
CEO Ryu Junghoon has highlighted the company's focus on human-supporting robotic arms as a key part of their expansion plan. This comes after the firm reported a revenue of 45 billion won in 2022, with notable customers such as LG Electronics backing their innovative technology.
The proceeds from the IPO are earmarked for strategic acquisitions, particularly in the autonomous vehicle technology sector. This move aligns with the company's aim to broaden its global footprint and further strengthen its position in the robotics market.
In addition, Doosan Robotics has formed a partnership with Microsoft Corp (NASDAQ:MSFT).'s Azure OpenAI service. This collaboration will facilitate the development of a GPT-based robot control system, demonstrating Doosan's commitment to integrating advanced technologies into their products.
The company's market introduction comes at a time when South Korea is leading in global robot usage, indicating a favorable environment for Doosan Robotics' growth and innovation. As they prepare to enter the market, their strategic moves signal an ambitious agenda for expansion and technological advancement in the robotics industry.
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