Richtech Robotics and Beijing City of Design Development Sign Agreement to Accelerate Design of Next-Gen AI-Powered Service Robotics
Collaboration through Joint Venture Boyu AI Technology will advance core software-hardware R&D, vertical market deployment, and industry incubation
LAS VEGAS, June 27, 2025 (GLOBE NEWSWIRE) -- Richtech Robotics Inc. (NASDAQ:RR) ("Richtech Robotics" or the "Company"), a Nevada-based provider of AI-driven service robots, today announced the signing of a Strategic Cooperation Agreement with Beijing City of Design Development Co., Ltd. via their Chinese joint venture, Boyu Artificial Intelligence (Beijing) Technology Co., Ltd. The partnership will concentrate on joint research and development, commercialization across high-growth verticals, and incubation of next-generation service-robotics solutions.
"This partnership significantly enhances our ability to integrate cutting-edge AI with practical robotic solutions," said Matt Casella, President of Richtech Robotics. "By joining forces, we aim to accelerate the development and deployment of technologies that improve service experiences and streamline operations across key industries such as hospitality, healthcare, and retail."
Under the agreement, the parties will co-apply to establish a "Beijing Foreign-Invested R&D Center," which will focus on pursuing breakthroughs in:
- Domain-specific large AI models
- Autonomous robotic decision-making systems
- Integrated software and hardware platforms tailored to service-industry needs
Beijing City of Design Development Co., Ltd. is a wholly state-owned enterprise jointly held by Beijing Financial Street Capital Operation Group Co., Ltd. and Beijing Shouke Group Co., Ltd., and it serves as the operating platform for Beijing's designation as a UNESCO Creative City of Design.
Richtech Robotics has deployed over 400 robot solutions across the U.S. including in restaurants, retail stores, hotels, healthcare facilities, casinos, senior living homes, and factories. Current clients include, Texas Rangers' Globe Life Field, Golden Corral, Hilton, Sodexo, Boyd Gaming, and more.
About Richtech Robotics
Richtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction. Learn more at www.RichtechRobotics.com and connect with us on X (Twitter), LinkedIn, and YouTube.
Forward Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate," "expect," and "intend," among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Such forward-looking statements include, but are not limited to, statements regarding the successful implementation of the joint venture and the Beijing Foreign-Invested R&D Center and expected results from the partnership with Beijing City of Design Development Co., Ltd.
These forward-looking statements are based on Richtech Robotics' current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements include, among others, risks and uncertainties related to the ability of each party to carry out its respective obligations under the Strategic Cooperation Agreement, the performance of Richtech Robotics' products, industry and general economic and market conditions. Investors should read the risk factors set forth in Richtech Robotics' Annual Report on Form 10-K, filed with the SEC on January 14, 2025, as amended on February 7, 2025 and March 4, 2025 and other public filings with the SEC. All of Richtech Robotics' forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics' forward-looking statements occurs, Richtech Robotics' business, financial condition and operating results may vary materially from those expressed in Richtech Robotics' forward-looking statements.
Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotics assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Investors:
CORE IR
Matt Blazei
[email protected]
Media:
Timothy Tanksley
Director of Marketing
Richtech Robotics, Inc
[email protected]
702-534-0050
