Rainbow Robotics, a South Korean-based cobot arm maker, is opening a branch company in Schaumburg, Illinois. The company said it chose Schaumburg because it is one of the major industrial clusters of global machinery companies.
“The establishment of a branch company in the U.S. will be a major milestone on our way to becoming a leading company in the global robot market,” said Rainbow Robotics CEO Jungho Lee. “I expect that we will achieve tangible results within a short period of time because it's something we have been preparing for a long time.”
Prior to this, Rainbow Robotics had set up two distributors in Germany to secure a foothold in the European market. Rainbow Robotics is also currently preparing to collaborate with global system integrators in the U.S. and European markets and recruiting domestic sales agents accordingly.
“We will release various mobile robots, including a serving robot that is currently under development, in not only Korea and the U.S. but Europe as well,” added Lee.
Samsung bets on Rainbow Robotics
Rainbow Robotics is listed on the KOSDAQ in Korea, with a market capitalization of more than KRW 2 trillion ($1.5 million USD), the largest amount among listed robot companies in Korea. Samsung Electronics has become its second-largest shareholder by investing heavily in shares.
Rainbow Robotics said its RB series of cobots are made up of actuators, encoders, brakes, and controllers, all of which the company has developed by itself. As a result, the company claimed it has been able to cut the production cost by approximately 50% and gain a significant price advantage over its competitors.
Robot Robotics also develops mobile manipulators (autonomous robots for industrial use), medical robots, and biped/quadruped walking robots.
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