Richtech joint venture secures $4M sales agreement with Beijing Tongchuang

Richtech Robotics (RR) announced the signing of a multi-million-dollar sales agreement with Beijing Tongchuang Technology Development by its Chinese joint venture, Boyu Artificial Intelligence Technology. The agreement, valued at over $4 million, includes the purchase, service, and software licensing of products from three of Richtech’s key product lines: ADAM, Scorpion, and Titan. The deal expands the company’s footprint in China and opens the door for additional potential opportunities across the Asian market. The agreement is expected to increase the company’s fourth quarter revenue as well as to drive recurring revenue moving forward.