Doosan Announces $33.7M Raise As It Expands It's Global Footprint

Seoul-based company, Doosan Robotics has announced that it has raised $33.7 million in funding and led Praxis Capital Partners and Korea Investment Partners.

Doosan said that the funding will be used to increase research and development and attract new partners as it looks to expand its global footprint.

Doosan also notes in a release that its robotics systems have hit 1,000 units annually, while sales outside of Korea (primarily North America and Western Europe) now account for roughly 70% of that total figure. The company is also in the process of eyeing an IPO.

CEO Junghoon Ryu in a release said “We’re looking forward to expediting the growth of our business with the recent funds raised,”

“We will further enhance the competitiveness of new products and software that are mounted with our proprietary technology and strive to attain the position as number one market share holder in the global cobot market.”

The company also announced the NINA (“New Inspiration. New Angle”) camera system.

Doosan is primarily known for its collaborative robots (cobots), whose use run the gamut from manufacturing and research to the coffee-making barista robot, Dr. Presso, which debuted late last year.

The company refers to NINA as a “prosumer” system, which likely applies to what’s supposed to be a relatively push-button approach to grabbing potentially complicated shots. That arrives in part, due to things like object tracking, coupled with an open platform that allows users to program different shots.

The company’s CEO in a separate statement said “NINA brings in a whole new era for Doosan as we expand our offerings into the entertainment and content genre,” 

“Our goal has been to deliver something accessible yet innovative for professional content creators across entertainment, advertising, social media, and other relevant industries, and we’re confident NINA will deliver in big ways across the board.”