StoryFunding
Samsung raises its Rainbow Robotics stake to 35%, becoming largest shareholder
Samsung exercised a call option for KRW 267 billion to lift its stake from 14.7% to 35%, making Rainbow Robotics a subsidiary. It also set up a Future Robotics Office reporting to the CEO, led by Rainbow co-founder Jun-Ho Oh.
- Call option: KRW 267B (about $181.6M).
- Initial 14.7% stake cost KRW 86.8B (about $59M).
- Rainbow was founded in 2011 by KAIST's HUBO team, 2015 DARPA Robotics Challenge winners.
- Samsung and Rainbow formed a joint council to plan products.