Mentioned:
Richtech Robotics is making their first foray into Beijing. And they want to build the next big breakthroughs in service robots.
What’s happening:
- Richtech Robotics (NASDAQ: RR) has entered into a new partnership with the Beijing City of Design Development to collaborate on developing new technology for autonomous robotics
Why it matters:
- This is the first time ever that Richtech Robotics has entered into a deal to bring their robotics technology to Beijing
Going deeper:
- Richtech Robotics and the Beijing City of Design Development have formed a new joint venture company known as Boyu AI Technology to develop and commercialize new types of service robots that can be used in healthcare locations and retail stores
- Boyu AI Technology will also advance research around new types of artificial intelligence models that are domain specific and purpose built for expanding the capabilities of Richtech Robotics’ service robots for performing tasks completely autonomously
The intrigue:
- Richtech Robotics has also been aggressively scaling up their operations in the United States of America lately, including previously acquiring a new 20,000 square foot facility in Las Vegas to ramp up their manufacturing capabilities
