[Photo provided by Doosan Infracore]
Doosan Infracore, the heavy equipment unit of South Korean conglomerate Doosan Group, said on Thursday it has agreed to invest in PoteNit, a local start-up specializing in autonomous driving systems.
Doosan Infracore has sought to develop technology that can automate construction and mining machinery in hopes to expand its business area to automation solutions.
The deal which marks the company’s first start-up investment was motivated by to the venture company’s market-proven autonomous mobile robot (AMR), which has already been employed in manufacturing and logistics sites. The company did not disclose details of the investment.
The AMR is characterized by its own autonomous driving technology without an external guide system. PoteNit has already commercialized a fully autonomous logistic robot with advanced technology. According to a Macquarie report, the global logistic robotics market is valued at about $1 billion, and is expected to grow rapidly to $2.4 billion in 2020 and to more than $18 billion in 2025.
A Doosan Infracore spokesperson said the two companies have worked on joint projects since 2015 and will cooperate to advance technologies to run machines autonomously and help the start-up go overseas through its global networks.
By Lee Dong-in and Minu Kim
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