Loomia’s Next Chapter as Part of Unichem
Unichem, a global industrial materials company with a 50-year history, is making a full-scale entry into the electronic skin (e-Skin) market, considered a core technology for the era of humanoid robots.
Unichem announced on the 5th that it has signed a Term Sheet to acquire a 100% stake in Loomia Technologies, Inc., a flexible electronics deep-tech company based in Brooklyn, New York.
Through this acquisition, Unichem will expand its business scope from a traditional automotive interior materials manufacturer to a smart materials platform company for future mobility and humanoid robots. The strategy is to combine Unichem's natural leather and industrial materials manufacturing and processing technologies, accumulated over 50 years, with Loomia's core flexible electronics technology to broaden applications beyond automobiles to robots, medical devices, wearables, and artificial intelligence (AI) data centers.
◇ "Skin that Robots Feel"... Expanding Beyond Automobiles to Humanoids
Loomia is a flexible electronics company founded in 2014 by Madison Maxey, a Stanford engineering alumna. The company co-developed the core technology for the LEL (Loomia Electronic Layer), an ultra-thin electronic circuit structure that can embed electronic circuits inside leather or fabrics.
Unlike conventional printed circuit boards (PCBs), LEL is thin and flexible, allowing it to be applied inside materials. Utilizing this, car seats, leather, and fabrics can function as smart materials that generate heat, sense pressure and temperature, or transmit data.
Loomia is expanding the application of its technology beyond automobiles to humanoid robots and tactile sensors. According to Unichem, Loomia has been in development discussions with leading US robotics companies to apply its technology to physical AI, and is also considering applying its flexible tactile sensor and electronic circuit technologies to training gloves used for building robotics engineering datasets.
Loomia's technology can collect information such as pressure, contact location, and slippage even on soft and flexible surfaces, allowing it to be expanded into electronic skin applied to the hands, grippers, and outer shells of humanoid robots.
Loomia is also a member of the "HAND ERC," an industry consortium that includes Meta and Amazon Robotics. HAND ERC aims to improve tactile sensing technology in robotics.
Following the acquisition, Unichem plans to combine Loomia's thin and flexible tactile sensor technology with its natural leather and high-functional material processing technologies to expand its business into developing large-area electronic skin that covers not only robot hands and grippers but the entire outer shell of robots.
The company is also pushing for mass production in the automotive sector. Through Sabelt, a global car seat and parts company, Loomia has been selected as the supplier for the seat heating system applied to Volkswagen Group's ecosystem vehicle program. Utilizing LEL technology, it plans to supply a seat heating solution that is thinner and more flexible than conventional heating wires.
With the acquisition of Loomia, Unichem will upgrade its existing automotive materials business into a smart interior materials business. The plan is to combine Unichem's natural leather manufacturing and post-processing technologies with LEL to apply heating, pressure sensing, and touch input functions to car seats, door trims, armrests, and dashboards.
Loomia's flexible heating and sensing technology can also be utilized in medical heating and rehabilitation devices, pressure distribution devices, and wearable monitoring products. Unichem and Loomia also plan to review applying LEL technology to thermal management by attaching flexible sensors to AI data center servers and equipment to detect temperature distribution and abnormal heat generation. However, the data center sector is a new R&D area where technological applicability and business feasibility will be verified post-acquisition.
◇ Performance-Linked Acquisition Structure... Establishing a North American R&D Hub
The final acquisition agreement is being pursued within a defined maximum enterprise value ceiling. Both companies are discussing a transaction structure that combines installment cash payments, stock consideration using Unichem common shares, and performance-linked consideration paid according to future technology development and commercialization achievements.
A portion of the acquisition price will be paid upon closing the transaction, and the remainder will be paid in stages as Loomia achieves pre-agreed milestones such as technology development and revenue targets. The specific ratio of cash, stock consideration, conditional convertible bonds, and performance-linked consideration will be finalized after due diligence and final contract negotiations.
To maintain technological and business continuity, Unichem plans to retain Loomia's founder and key R&D personnel after the acquisition. The company is pursuing a plan where founder Madison Maxey and Unichem's Chief Strategy Officer (CSO) Han-joo Kim will join as co-CEOs, while Chief Technology Officer (CTO) Ezgi Ucar and other key technical staff will oversee global R&D and business expansion.
Loomia's Brooklyn, New York corporation and R&D organization will be utilized as Unichem's North American R&D and US market entry hub. In the US, the company will expand joint development with global automakers, robotics, and medical device companies, while in South Korea, it plans to convert prototypes into mass-produced products utilizing Unichem's manufacturing facilities and supplier network.
An official from Unichem stated, "The acquisition of Loomia is the starting point for Unichem to transition beyond a simple automotive interior materials manufacturer into an intelligent smart materials company that combines materials and electronic technology," adding, "We will expand the technology proven in automobiles to the hands and electronic skins of humanoid robots, medical devices, and data center thermal management fields."