[Exclusive] Robot Barista Company 'Pletorobotics' Pursues IPO... NH Securities as Lead Manager

[Asia Economy Reporter Park Soyeon] Folletto Robotics, well known for its 3D latte art and robot barista technology, is challenging a KOSDAQ listing. The lead underwriter is NH Investment & Securities.

On the 7th, Park Noseop, CEO of Folletto Robotics, stated, "We are aiming for a listing as early as 2024, and no later than 2025." He added, "We secured an investment of 2.4 billion KRW from Doosan Robotics and also received investment from Korea Rental." It is reported that Folletto Robotics is also negotiating investments with other major domestic conglomerates besides Doosan.

Founded in 1998 as a printer-specialized company, Folletto Robotics began gaining attention in 2017 with the launch of the latte art printer 'Folletto,' which combines coffee and printer technology. The company’s main business models are service robots such as the latte art 3D printer Folletto and the robot barista 'Happy Bones.'

Park Noseop, the CEO leading Folletto Robotics, is a developer by background. He developed interface solutions for global companies such as IBM and HP. He also participated in developing Fujitsu printer system solutions. He personally developed the robot barista Happy Bones and the latte art printer Folletto. He holds 15 patents including for unmanned beverage manufacturing systems.

The latte art 3D printer Folletto uses safe edible inks to realistically draw images provided by users on the milk surface of lattes. Users can vividly express photos or images stored on their smartphones in just 20 seconds. Folletto, which quickly gained fame, is popular not only domestically but also overseas.

It has been reported through media in Japan, Taiwan, Turkey, and Saudi Arabia, and sample requests have flooded in. Domestically, it is installed at SM Entertainment headquarters, Daewon Media, and Daejeon Design Promotion Agency, among others.

The booth-type barista robot 'Happy Bones' is expanding its business recently as unmanned cafes increase. Happy Bones can make a total of 16 coffee menus including Americano, latte, cappuccino, caramel macchiato, vanilla latte, and two types of lemonades, and it is equipped with a self-steam pitcher cleaning function.

It does not simply make coffee but provides services similar to those received from an actual barista, such as closing the cup lid and drawing heart shapes on the latte. It takes about 36 seconds to make and serve one Americano to a customer. It can operate as a 24-hour unmanned store. Folletto Robotics recorded sales of 1.9 billion KRW in 2021, growing 250% compared to the previous year.

With investment from Doosan Robotics, they plan to jointly establish a cooperative system for entering the robot food tech market, enhance product performance, and launch new products.