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This Letter of Intent sets the stage for exploratory discussions between DoBot and VenHub that the companies say could alter the face of the retail and robotics landscape. It outlines the initial understanding between the two companies and marks the start of a strong strategic partnership for future collaboration.
The joint exploration between the two companies show a commitment from both companies to their pursuit of innovation that pushes the boundaries and transcends traditional shopping experiences.
“Our mission at DoBot has always been to transform how we live, work, and interact with groundbreaking robotic technology,” Jerry Liu, CEO of DoBot Robotics, said. “The opportunity to explore a partnership with VenHub, a company that shares our passion for innovation, is genuinely exhilarating.”
The companies plan to blend innovative retail systems, which VenHub is developing, with DoBot’s advanced robotics. DoBot and VenHub are working towards a future where operational efficiencies and the consumer experience are intertwined.
“Both VenHub and DoBot Robotics share a commitment to revolutionize our respective industries. This shared vision makes this potential partnership exceptionally thrilling,” Shahan Ohanessian, CEO of VenHub, said. “We believe that by combining our resources, we can create a retail ecosystem that is not just about buying and selling, but about enhancing everyday experiences for consumers worldwide.”
“This partnership holds the promise of unlocking new potential in the retail space,” Ohanessian continued. “We are excited about the possibilities ahead of VenHub, for our shareholders, pre-order clients, and worldwide partners. Please stay tuned as our journey continues with limitless possibilities.”
With the introduction of DoBot’s latest robot in April 2023, the company has reached yet another important milestone in the development of its product line. It now has a comprehensive product matrix that includes payloads ranging from 1.3 lb (0.5 kg) to 53.6 lb (20 kg) in order to accommodate a larger variety of application scenarios.
VenHub is developing fully autonomous, AI-driven smart stores that can take the form of convenience stores, retail stores, and gas and electric stations. At these smart stores, customers can order the products they want with a tablet at the ordering window. Their order is then picked by a robot arm, and when it’s finished can be picked up at a pickup window.