Exclusive: Wonik Robotics Seeks About $217 Million as State Growth Fund Considers Investment
Wonik Robotics is seeking an investment of more than 300 billion won ($217 million) from the National Growth Fund and other backers, according to the investment banking industry on August 20. The National Growth Fund is also reviewing a structure that would match money from…
The National Growth Fund is also reviewing a structure that would match money from the Advanced Strategic Industry Fund with private capital. Specific terms, including the size of the fund’s investment, are to be set through an investment review committee and a fund management.
A government official said the proposal remains under review and that final terms are still being discussed. The proposal came from the Growth Enterprise Discovery Council, a joint public-private consultative body spanning multiple ministries.
What Happened
If approved, it would mark the National Growth Fund’s first investment in robotics. The investment is likely to be structured as mezzanine financing, including convertible bonds, or CBs, and redeemable convertible preferred shares, or RCPS, or as a paid-in capital increase.
Wonik Robotics is seeking an investment of more than 300 billion won ($217 million) from the National Growth Fund and other backers, according to the investment banking industry on August 20.
The government-led policy fund is being set up with a planned size of 200 trillion won ($145 billion) over five years to foster advanced strategic industries.
Wonik Robotics is unlisted, and Wonik Holdings owns a 96.37% stake.
Key Details
The focus is on injecting new capital into the company rather than trading existing shares. Wonik Robotics plans to use the proceeds to build data centers, according to people familiar with the matter.
According to a company report, the global robot-hand market is projected to grow from about 200 billion won ($145 million) this year to about 2 trillion won ($1.45 billion) by 2030.
The AMR and autonomous mobile manipulation robot, or AMMR, market is projected to expand from 9.7 trillion won ($7.03 billion) this year to 22 trillion won ($15.95 billion) by 2030, representing average annual growth.
An industry official added that Wonik Group’s manufacturing affiliates across semiconductors, secondary batteries and displays could create synergies for Wonik Robotics.
Why It Matters
One industry official said the company aims to accumulate data generated by its robot hands and industrial robots to further upgrade its physical AI technology. Robot hands are considered a key component in robotics.
Beyond robot hands, Wonik Robotics is developing new businesses including autonomous mobile robots, or AMRs, and robotic automation solutions.
Wonik Robotics is also expanding its foothold in the global supply chain through joint development with Meta Platforms Inc.
What Reports Say
Coverage of the story so far points to:
Continued reporting by bloomingbit as more details emerge
