Rainbow Robo "Leap to a Global Robot Specialist Company... KOSDAQ Listing in February"

Subscription for General Investors on 25-26th... Expecting 18.6 Billion KRW Funding
Development of Korea's First Humanoid Bipedal Robot 'Hubo'
Aiming for Global No.1 in Collaborative Robot Market

[Asia Economy Reporter Hyungsoo Park] "With expertise in the robotics field and differentiated technology, we will grow into a leading robotics company representing the Republic of Korea."

On the 18th, Lee Jung-ho, CEO of Rainbow Robotics, held an online corporate briefing and stated, "Much development still needs to be done before bipedal robots can be applied in daily life," adding, "Through listing on the KOSDAQ market, we aim to establish ourselves as a truly global robotics company that can change the world with robotics technology."

Founded in 2011, Rainbow Robotics is a robotics platform specialist company that developed HUBO, the first humanoid bipedal robot in Korea. Utilizing core technologies of the robotics platform, the company has developed bipedal robots, quadrupedal robots, collaborative robots, and astronomical mount systems.

CEO Lee said, "Bipedal robot technology is the highest-level robotics platform that integrates all robotics technologies, making it difficult to implement," and added, "As a result of nearly 20 years of research and development, Rainbow Robotics can develop various types of robots based on all core technologies of robotics engineering."

Rainbow Robotics has supplied its developed bipedal robots to numerous domestic and international research institutions, universities, and companies such as the Massachusetts Institute of Technology (MIT), Google, and the U.S. Naval Research Laboratory. In 2015, the company’s technology was validated by winning a competition hosted by the U.S. Defense Advanced Research Projects Agency (DARPA).

Recently, due to the impact of the novel coronavirus disease (COVID-19), the untact culture has expanded, increasing interest in the commercialization of robots. Collaborative robots have secured advantages such as lower introduction costs compared to traditional industrial robots, easy operation, worker safety, and flexible deployment. Demand is rapidly increasing as they begin to be introduced in various service industry sectors where industrial robots could not be utilized.

Based on the core technologies already secured, Rainbow Robotics entered the collaborative robot field faster than planned. The collaborative robot 'RB series' strengthens market dominance through ▲optimal product performance and easy maintenance with self-developed software ▲product development through internalization of core components securing competitive sales prices and cost competitiveness compared to competitors ▲and customization.

After entering the collaborative robot market, the company plans to focus investments on autonomous mobile robots and medical robots. Autonomous mobile robots can safely move to desired locations or transport loads. They complement the limitations of collaborative robots, which have restricted work radii, and mobile robots, which face difficulties performing tasks on workpieces.

The company is also promoting the convergence of robotic application technologies in the medical industry. It is preparing to capture the global medical aesthetic robot market. Rainbow Robotics is focusing on entering the medical robot market by developing a robotic laser toning system that automates laser procedures. The laser toning system was selected for the New Technology Medical Device Approval Assistance Program by the Ministry of Food and Drug Safety.

Rainbow Robotics plans to offer 2.65 million shares for its initial public offering (IPO). The expected offering price is 7,000 to 9,000 KRW per share, with a total offering amount of approximately 18.6 to 23.9 billion KRW. Demand forecasting will be conducted over two days from the 18th to the 19th. Subscription for general investors will be held on the 25th and 26th, and the company will be listed on the KOSDAQ market on the 3rd of next month. The lead underwriters are Mirae Asset Daewoo and Daishin Securities.