Investors are looking forward to the IPO of Boston Dynamics, Inc. The company builds robots and develops software to simulate human behaviour. Customers include SpaceX and the US Army.
Boston Dynamics emerged in 1992 from the Massachusetts Institute of Technology (MIT) and was acquired by Alphabet in 2013, Softbank in 2017, and Hyundai in 2021. Hyundai paid $1.1 billion to acquire Boston Dynamics' stake. The company's key competitors are robot manufacturers such as RE2 Robotics.
Since its foundation, the company has generated $37 million in funding. The start-up's exact profits are unknown, but it reportedly sold around 250 Spot robots in 2020 at $74,500 each, earning $18,625,000. In addition, the company sells Pick, which is an updated version of the existing robots, for $75,000. There are plans to release three new robots in the coming years. Boston Dynamics is expected to reach profitability in 2023-2024.
So far, there is no exact confirmation of the company's IPO date. Analysts predict an IPO soon because car giant Hyundai has bought an 80% stake in the company. The latter can expect Boston Dynamics to start turning a profit as soon as possible. An IPO is a logical step towards the start of the firm's payback.
According to Mordor Intelligence, the robotics market will grow from $27.73 billion in 2020 to $74 billion in 2026 at a CAGR of 17.4%. Also, Grand View Research and Allied Market Research show that the market for robots used in warehouse operations is expected to grow at a CAGR of 11%, reaching $5.2 billion in 2023.
