Doosan Robotics, Korea’s First Collaborative Robot with Annual Sales of 1,000 Units… Secures 40 Billion KRW Investment

Establishment of Overseas Corporations in North America and Europe Next Year… Future IPO Also Planned

Doosan Robotics' lineup of 10 collaborative robots<br>[Photo by Doosan Robotics]

Doosan Robotics’ lineup of 10 collaborative robots
[Photo by Doosan Robotics]

[Asia Economy Reporter Kim Heung-soon] Doosan Robotics announced on the 22nd that it successfully secured an investment of 40 billion KRW from Praxis Capital Partners and Korea Investment Partners, based on the achievement of being the first in Korea to surpass an annual sales volume of 1,000 collaborative robots.

Doosan Robotics explained that with this funding, it plans to expand its global sales bases, develop innovative new products, secure additional domestic and international partnerships, and invest in related technology equity. The company also plans to pursue an initial public offering (IPO) in the future.

Founded in 2015, Doosan Robotics has independently developed technology to produce collaborative robots. Since 2018, it has consistently maintained the number one market share in the domestic collaborative robot market. The company stated that both sales volume and revenue have grown by an average of 70% annually, and it expects the current growth trend to continue in line with increasing demand for collaborative robots.

Performance in the overseas collaborative robot market stands out. With overseas sales accounting for 70% in regions such as North America and Western Europe, Doosan Robotics became the first domestic collaborative robot company to enter the global top 5 rankings. The company plans to accelerate growth by establishing subsidiaries in these regions.

Doosan Robotics analyzed that these achievements are due to excellent competitiveness, including ▲ the largest lineup in the collaborative robot industry ▲ industry-leading safety based on proprietary torque sensor technology ▲ and an intuitive interface for ease of use.

Doosan Robotics has about 40% of its entire workforce dedicated to research and development (R&D), driving product development and related software innovation. Its product lineup is expanding to various service robots, including the camera robot (NINA), which won the CES 2022 Innovation Award at the world’s largest home appliance and IT exhibition, as well as modular robot cafes, ice cream robots, and medical assistant robots.

Ryu Jeong-hoon, CEO of Doosan Robotics, said, “We will enhance the competitiveness of new products and software applying our proprietary technology to achieve the number one global market share in collaborative robots and become the world’s best robotics company.”

Meanwhile, according to related industries, the manufacturing collaborative robot market is expected to grow at an average annual rate of 23% due to labor shortages and rising wages, expanding from the current market size of 1 trillion KRW to 3 trillion KRW by 2026. Additionally, the overall robot market is projected to increase from 35 trillion KRW in 2022 to 91 trillion KRW in 2026, with collaborative robots expected to expand from their current manufacturing focus to specialized service areas such as F&B (food and beverage), medical, and logistics.