[IPO] Neuromeka, 60% Annual Growth 'Pre-Unicorn'... "Aiming for Global No.1 in Collaborative Robots"

Jonghun Park, CEO of Neuromeka.

[Asia Economy Reporter Jang Hyowon] NeuroMeka, a company specializing in collaborative robots, is knocking on the door of KOSDAQ. Based on its own technology, NeuroMeka plans to further expand its business into various fields including collaborative robots, autonomous mobile robots, industrial robots, and bio-robots.

On the 20th, CEO Park Jonghoon of NeuroMeka held a press conference in Yeouido, Seoul, stating, “NeuroMeka has grown at an average annual rate of about 60% over the past 10 years,” and added, “In 2020, we were selected as a prospective unicorn company in the robotics field, and the global market analysis firm Gartner recognized our achievements in innovating the collaborative robot market, selecting us as a tech innovator in the smart robotics sector.”

Founded in 2013, NeuroMeka is a company specializing in collaborative robots. Collaborative robots are robots that work in the same space as humans and physically interact with them. NeuroMeka has developed autonomous mobile robots, industrial robots, and delta robots based on its collaborative robot technology.

In addition to robots, NeuroMeka implements robot automation solutions using its own technology and provides them to various customers in the form of RaaS (Robot as a Service). Through this, the company plans to grow into a total robot automation solution specialist by offering virtual process services, automation subscription services, and cloud-based remote maintenance services to facilitate smooth adoption and operation of solutions.

NeuroMeka also holds more than 30 patents, the most in the industry, as a result of research and development-focused management. Based on this, it launched ‘Indy,’ the world’s first collaborative robot capable of self-teaching. Indy, developed by integrating deep learning vision sensors, can detect collisions without sensors using artificial neural network technology.

NeuroMeka’s collaborative robots have been introduced to production lines of more than 100 small and medium-sized manufacturing companies in Korea. Notably, the company has also achieved results in the automation of F&B cooking in sectors such as chicken, pizza, and rest areas. It signed a supply contract for collaborative robots with Kyochon Chicken, a leading chicken franchise in Korea, and is pursuing contracts with other chicken brands. Supplies are also being made to the pizza brand GoPizza and various rest areas, and recently, products have been launched in the lab automation field for sample analysis and synthesis.

CEO Park Jonghoon said, “We signed a contract for 100 sets with Kyochon Chicken, a leading domestic franchise,” and added, “We are also pursuing supply to large domestic companies’ lab automation. Since automation solutions including robots are supplied integrated with software in these F&B and lab automation fields, the growth potential is even higher.”

NeuroMeka’s core competitiveness lies in possessing both algorithm and software capabilities as well as hardware competitiveness. NeuroMeka has secured technology that predicts collisions using vision sensors and avoids them in real time, moving beyond the previous method of stopping only after detecting collisions. It also developed collaborative robot technology that evolved from direct teaching, where force is applied directly to input paths, to technology teaching, where the operator’s force and motion are taught remotely.

Going forward, NeuroMeka plans to reduce costs through in-house component production. CEO Park said, “The largest part of the cost is motors and reducers, so NeuroMeka is carrying out plans to reduce current component costs by 36% by 2024 and 54% by 2025 through in-house development.”

He also stated, “Once the Pohang production base under construction is completed, production capacity will increase from the current 600 units per year to 6,000 units in 2023, and up to 18,000 units annually after the third phase is completed in 2025. Based on this capacity, we will actively target the global market.”

Meanwhile, NeuroMeka’s total number of shares to be offered is 1.5 million, with a desired public offering price of 14,000 to 16,900 KRW. Institutional demand forecasting will be conducted over two days on the 20th and 21st, and general subscription will take place on the 26th and 27th. The expected amount to be raised through this offering is estimated at 21 billion to 25.4 billion KRW. The lead underwriter is Daishin Securities.

This content was produced with the assistance of AI translation services.