Kakao revealed that Kakao Investment and Kakao Brain co-invested in a Robot Module Platform company LUXROBO.
LUXROBO manufactures modular robotics platforms that contain micro operating systems. Its recent development ‘MODI’ allows its users to easily program and create products by providing an intuitive graphics-based software that has access to LED, speakers, infrared ray, microphones, motors, and gravitational sensors. Thanks to its high degree of completion and simple instructions, ‘MODI’ is used in programming educations in the global market such as in the United Kingdom and Dubai. The company plans on reaching out to 30 global markets by the end of 2017.
Kakao Investments and Kakao Brain recognized this high value of LUXROBO’s global competitiveness and technical skills and thus co-invested 3.6 Million USD (4 Billion KRW). Kakao expects to create synergy in the fields of artificial intelligence, hardware, robotics and Internet of Things (IoT).
Sanghoon Oh from LUXROBO stated, “Our company will go beyond its current role as a manufacturer of educational programming modular robots and develop personalized Do-It-Yourself Internet of Things (DIY IoT) products.” He added, “this cooperation with Kakao will expedite the progress in the fields of modular robotics and Internet of Things.”
Jihwan Park from Kakao Investment stated, “LUXROBO has a self-developed micro operation system that can be utilized in so many different ways. Its modular robotics platform has a very high degree of completeness and has been proven to be very useful. We will cooperate in various fields and maximize LUXROBO’s competitiveness.”
Kakao has been consistently investing in artificial intelligence and robotics firms through its subsidiary companies. Its affiliated investment company K-Cube Ventures has invested in a medical imaging diagnosis service provider Lunit, an artificial intelligence based systems biology company Standigm, and Uvify, a drone company that utilizes artificial intelligence based computer vision. Kakao plans to expand its investments to more companies home and abroad with high potentiality.