Doosan Robotics this week announced $33.7 million in funding, led by Praxis Capital Partners and Korea Investment Partners. The news of the fundraiser comes as the Seoul-based company showcases its products at CES in Las Vegas.
The company says the funding will be used to increase research and development and attract new partners as it seeks to expand its global footprint. Doosan also notes in a statement that its robotic systems have reached 1,000 units per year, while sales outside Korea (mainly in North America and Western Europe) now account for around 70% of that total figure. The company is also considering an IPO.
“We look forward to accelerating the growth of our business with the recently raised funds,” CEO Junghoon Ryu said in a statement. “We will further improve the competitiveness of new products and software built with our proprietary technology and strive to achieve the position of the leading market share holder in the global cobot market.”
Doosan is best known for its collaborative robots (cobots), the use of which spans the gamut from manufacturing and research to the coffee-making barista robot, Dr. Presso, which debuted in the late 1900s. last year.
Along with funding news, the company also announced the NINA (“New Inspiration. New Angle”) camera system. We mentioned it a few weeks ago, after winning a CES Innovation award, but this week we get more information about the robotic system, which is due out in March.
The company refers to NINA as a “prosumer” system, which likely applies to what’s supposed to be a relatively simple approach to capturing potentially complicated photos. This happens in part because of things like object tracking, coupled with an open platform that allows users to program different shots.
“NINA ushers in a whole new era for Doosan as we expand our offerings in the entertainment and content genre,” the company’s CEO said in a separate statement. âOur goal has been to provide something accessible yet innovative for professional content creators in entertainment, advertising, social media and other relevant industries, and we are confident that NINA will provide large quantities at all levels.”