Rainbow Robotics Sets Up a Branch Company in the U.S. to Accelerate the Globalization Process

SCHAUMBURG, Ill., April 17, 2023 /PRNewswire/ -- Rainbow Robotics (CEO Jungho Lee) announced on the 17th of this month that it has established a branch company in Schaumburg, Illinois, U.S.A.

Rainbow Robotics has set up a branch company in 'Schaumburg', one of the major industrial clusters of global machinery companies, in order to tap into the U.S. market by selling collaborative robots (cobots) and forming a customer management team.

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.

Rainbow Robotics is the only company in Korea to develop and make robot platforms integrated with core components and component technologies, and it now plans to expand its global market share in the U.S. and Europe with collaborative robots by significantly reducing robot production costs.

Rainbow Robotics is listed on the KOSDAQ in Korea, with a market capitalization of more than KRW 2 trillion, the largest amount among listed robot companies in Korea. In particular, Samsung Electronics has become its second largest shareholder by investing heavily in shares, proving that Rainbow Robotics will lead the global robot market beyond Korea.

Rainbow Robotics' 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 has been able to cut down the production cost by approximately 50% and gain a significant price advantage over its competitors.

Rainbow Robotics CEO Jungho Lee said, "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. 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." He added, "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."

In addition to the collaborative robot, which can satisfy diverse everyday requirements, Rainbow Robotics has been developing and introducing a wide range of robot platforms such as mobile manipulators (autonomous robots for industrial use), medical robots, and biped/quadruped walking robots. Rainbow Robotics also develops and provides software for robots that are optimized to meet individual customer requirements, and can perform various functions without requiring the users to learn new technologies, thereby helping the users to reduce their production costs and focus on delivering higher quality goods and services to their customers.