Evolution Robotics Signs Licensing Deal

Pasadena-based Evolution Robotics, the Idealab-backed provider of robotic technology, said Thursday that the firm has licensed its technology to the Korean Institute of Industrial Technology (KITECH). Evolution Robotics said that KITECH has licensed the firm's visual pattern recognition technology, as part of a kits for Korean academic organizations. Financial impact of the licensing deal was not disclosed. Evolution Robotics said the KITECH robot platform software development kit is being developed to expedite robotics research for Korean academic organizations. Evolution Robotics' visual pattern recognition technology is used for autonomous navigation, target tracking, and fraud detection.