Richtech Robotics Signs Distribution Deal for AI-Backed Single-Arm Beverage Service Robot

MT Newswires Live09-20 17:25

Richtech Robotics (RR) said Thursday it signed a distributor agreement with Part 34 Liquor Store, which has agreed to sell at least 500 units of its Scorpion artificial intelligence-powered single-arm beverage service robot over five years.

No financial details were disclosed but Richtech said the deal also covers Park 34 Liquor Store selling at least 500 Scorpion units per year after the initial five-year period. The product is set to debut at Park 34 Liquor Store's New York location on Sept. 26, according to the statement.

Richtech announced the launch of Scorpion on Thursday. The company said Scorpion is designed to provide drink recommendations based on preferences and mood, leveraging AI technologies from Nvidia (NVDA) to back its cocktail and wine-tasting programs.

Shares of Richtech were up more than 12% in recent premarket activity Friday.

Price: 1.04, Change: +0.12, Percent Change: +12.74

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment