MX Robotics Secures KRW 10 Billion Investment from Parent Company MX On

Logistics automation solutions company MX Robotics has secured KRW 10 billion (approximately USD 7.5 million) in investment from its parent company MX On.

MX On disclosed on August 10 that it held a board meeting on August 7 and resolved to participate in MX Robotics’ paid-in capital increase by acquiring 3.289 million new shares in cash. The acquisition amount is KRW 9.999 billion, equivalent to 8.21 percent of MX On’s equity capital of KRW 121.868 billion. The share payment is scheduled for August 24.

Following this capital increase, MX On’s shareholding in MX Robotics will increase to 7.519 million shares, expanding its stake to 32.24 percent. MX On plans to strengthen its control and business cooperation with MX Robotics through this equity expansion.

The two companies aim to continue technology and business cooperation in the development and supply of OHT (Overhead Hoist Transport) systems. MX On supplies various control devices applied to semiconductor processes, including human-machine interface (HMI) systems.

Through this investment, MX On plans to link its existing HMI and control device business with semiconductor logistics robot businesses such as AMR and OHT, expanding its semiconductor-related product portfolio and revenue base.