Robot vacuum company files for bankruptcy
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Picea Robotics and a business partner revealed it entered into a buyout deal with Roomba producer iRobot via court-supervised bankruptcy proceedings.
The Chinese ODM makes robot vacuums for dozens of companies along with its own 3i line.
The robotics business is at a turning point, finally integrating artificial intelligence's full potential into moving machinery.
California startups are building robots to help with fold laundry and other tedious tasks as the race to dominate artificial intelligence intensifies against countries such as China.
7hon MSNOpinion
Thanks to Antitrust Officials, iRobot Will Be Acquired by a Chinese Robotics Firm Instead of Amazon
Regulators warned Amazon’s iRobot deal would hurt consumers. Instead, the Roomba maker collapsed and sold to China.
Analysts at the investment bank estimated the humanoid robot market will be worth more than $5 trillion by 2050.
Robotics company Teradyne plans to establish a $32 million plant and create 230 jobs in Wixom amid an automation boom across the manufacturing sector.
Robot companies are racing toward a breakout year, but they'll have to confront some fundamental problems before making bigger promises.