In South Korea's largest IPO of the year Doosan Robotics’s growth is driven by robots that serve beer, coffee, and more.

In a world where robots are slowly becoming our everyday companions, South Korea's largest initial public offering (IPO) of the year took a refreshing twist. Doosan Robotics Inc., the mastermind behind robots that can expertly pour your beer, brew your coffee, and even whip up some crispy fried chicken, made its dazzling debut on the Seoul stock exchange on October 5th, raising a staggering $312 million. It's like a sci-fi film script, but it's very real. Johnny 5 would be proud.

Doosan Robotics – Cheers to the Future

Doosan Robotics robots are stealing the spotlight in South Korea. These aren't just any robots; they're the kind that bring you a cold brew on a scorching day or prepare your morning cappuccino with precision. With the promise of transforming the future of factories, Doosan Robotics’ value skyrocketed on its first day of trading, with shares nearly doubling from $19.29 to $38.13. Intraday fluctuations even hit an astounding 160%.

South Korea's Doosan Robotics shares jump 127% in trading debut https://t.co/4xD6duUfEq pic.twitter.com/QBhXuo2CWf

— Reuters (@Reuters) October 5, 2023

Leading the Robo-Revolution

Founded in 2015, Doosan Robotics has quickly risen to prominence as a frontrunner in the world of collaborative robots, affectionately known as "cobots" among industry insiders. Leveraging South Korea's impressive tech prowess, the company is captivating investors with its vision. According to the International Federation of Robotics (IFR), South Korea boasts the fourth largest installation base of robots in the world, behind only the US, China, and Japan.

Doosan's robots are not confined to bars and coffee shops in Seoul. They're also making life easier at airports, where they work alongside humans to expedite luggage handling, but Doosan Robotics isn't stopping there. They're embracing generative artificial intelligence, thanks to a groundbreaking collaboration with Microsoft for a GPT-based robot control system. Imagine a robot completing tasks with just a simple voice command, no human intervention required. Alexa, eat your heart out.

A Growing Market

In 2022, Doosan reported $33.3 million in revenue, evenly spread across North America, Europe, and South Korea. The CEO, Ryu Junghoon intends to use the IPO proceeds to acquire robotics firms specializing in mobility and expand the company's global footprint. "This is a market that's starting to take off," Junghoon told Bloomberg. "It's possible more companies will emerge in this space."

According to a report in July by MarketsandMarkets, the global cobot market, where Doosan competes with the likes of Denmark's Universal Robots and Japan's Fanuc, could reach a staggering $6.8 billion by 2029, soaring from $1.2 billion this year. It's clear that Doosan Robotics is leading the charge into a robotic future that's as exciting as it is revolutionary.

So, while you enjoy your robot-served coffee and crispy chicken, remember to say please and thank you, because you want to be on their good side when the machines take over the world.