Richtech Robotics Inc

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Richtech Robotics, Inc. engages in the development of robotic technologies. The firm designs, manufactures, and sells robots to restaurants, hotels, senior living centers, casinos, factories, and movie theaters. Its robots perform a variety of services including restaurant running and bussing, hotel room service delivery, floor scrubbing and vacuuming, and beverage and food preparation. The company was founded by Zhen Wu Huang and Zhen Qiang Huang on July 19, 2016 and is headquartered in Las Vegas, NV.

Amid a nationwide shortage of pharmacy staff, the company is addressing critical healthcare facility challenges by automating the safe and secure delivery of medications

Richtech Robotics Launches Elevator-Enabled Medbot: A Revolutionary Robot to Improve Healthcare Facility Efficiency

The companies intend to launch the robotic beverage system ADAM in customer facing locations inside hospitals, airports, and schools

Richtech Robotics Announces Joint Venture with Zipphaus to Launch Robot-Operated Cafes

Richtech Robotics aims to address labor shortages in the hospitality industry by supplying robots. The market size for hospitality robots is projected to grow to $3.083 billion by 2030. Richtech Robotics claims to have competitive advantages such as a first mover advantage and a broad range of robot solutions.

Richtech Robotics Poised To Capitalize On Labor Shortages In Hospitality Industry

LAS VEGAS, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics”), a Nevada company and a provider of AI-driven service robots, announces a non-binding Letter of Intent (“LOI”) with Ghost Kitchens International Inc. (“Ghost Kitchens”) to launch 240 ADAM robotic beverage systems at Ghost Kitchens restaurants, some of which are currently located inside Walmart stores. ADAM, Richtech's premiere robotic solution, will execute complex barista tasks with human-like precision inside the highly popular retailer locations.

Richtech Robotics Signs Letter of Intent with Ghost Kitchens International Inc. to Revolutionize Dining Experience

Richtech Robotics designed serving robot Adam for the hospitality industry to fill persistent labor shortages.

Robot Barista Looks To Fill Labor Shortage. Say Hello To Adam.

LAS VEGAS, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics” or the “Company”), a trailblazer in collaborative robotic solutions for the service industry, announces a strategic alliance with MAC Marketing LLC (“MAC-USA”), a leading Vietnamese point-of-service (POS) provider. This groundbreaking partnership aims to revolutionize how merchants streamline their operations and elevate customer experiences through cutting-edge automation.

Richtech Robotics Forges Strategic Partnership with MAC USA, Revolutionizing Service Industry Dynamics

LAS VEGAS, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics” or the “Company”), a Nevada company and a provider of AI-driven service robots for the hospitality and healthcare industries, today announced that it issued an additional 42,563 shares of the Company's Class B common stock pursuant to partial exercise of the underwriters' over-allotment option in connection with the Company's initial public offering at $5.00 per share, resulting in additional gross proceeds of $212,815. Total proceeds of the Company's initial public offering, including the exercise of the over-allotment option, were $10,712,815.

Richtech Robotics Announces Closing of Underwriters' Over-Allotment Option in Connection With Its Initial Public Offering

Richtech Robotics Inc., (Nasdaq: RR) a Nevada company and a provider of AI-driven service robots announced the closing of its initial public offering.

Richtech Robotics Announces Closing of Upsized Initial Public Offering

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Four smaller IPOs priced this past week, joined by one SPAC. The biggest news came from the pipeline, with product assessment services provider UL Solutions filing for an estimated $1 billion IPO, followed by a sizable filing from metabolic disease biotech Carmot Therapeutics. The IPO calendar looks quiet for the Thanksgiving week, although some small issuers may join last minute.

U.S. IPO Weekly Recap: Smaller Deals Slip Through The IPO Window Before The Thanksgiving Break

Richtech Robotics has filed proposed terms for a $15 million IPO. The company designs and manufactures robots for various commercial service functions, targeting industries such as restaurants, hotels, and factories. Despite growing revenue, Richtech Robotics is experiencing substantial operating losses and has a high valuation, so my outlook is to Sell [Avoid].

Richtech Robotics Readies $15 Million U.S. IPO

Richtech Robotics Inc. said Friday it plans to offer 3 million Class B shares at $4 to $6 a share in its upcoming initial public offering on the Nasdaq under the symbol RR. The Las Vegas-based maker of robots for performing cleaning and other duties at restaurants, hotels, senior-living centers and casinos will raise $15 million with underwriter Pacific Century Securities at the midpoint of the IPO's price range.

Richtech Robotics sets $4-$6 price range in microcap IPO

Richtech Robotics Inc. has filed for an IPO to raise $22.25 million, although the final amount may differ. The company is focused on selling its ADAM food and beverage automation systems to various industries, including restaurants, hotels, and factories. Richtech's financial performance shows growing revenue from a small base, variable gross profit, and increasing operating losses.

Richtech Robotics Files For $22 Million U.S. IPO

News for Richtech Robotics Inc Stock (RR)