LG Electronics Invests $60M In Fellow Robot Maker

The California-based manufacturer will look for new product applications and territories.

Bear Robotics ServiPlus
At the 2023 National Restaurant Association Show in Chicago, Bear Robotics showcased Servi Plus, which can navigate ramps and more. FER File Photo.

Redwood City, Calif.-based Bear Robotics—a past Kitchen Innovations recipient that manufactures hospitality-geared robots—has completed a $60 million Series C funding round led exclusively by LG Electronics.

With the new cash infusion, Bear Robotics aims to enter new territories as well as target “emerging markets” like smart warehousing and supply chain automation, states a March 12 press release. As such, the maker’s next-generation products are expected to feature autonomous navigation systems and adaptive learning algorithms.

“Our partnership with LG goes beyond funding; it’s a strategic alliance that boosts our mission to enhance efficiency and productivity in sectors ripe for innovation,” says John Ha, CEO of Bear Robotics. “Capitalizing on our success in the hospitality sector, we are now expanding our technology’s horizon, customizing our solutions to meet the unique demands of smart warehousing and supply chain automation, and setting new benchmarks for what our robots can achieve in diverse environments.”

Lee Sam-soo, chief strategy officer at LG Electronics, further notes that the investment “will help secure a leading competitive edge for LG and Bear Robotics in the service robotics domain. We are committed to evolving our robot business as a key growth engine, exploring various opportunities through the integration of cutting-edge technologies such as Embodied AI and robotic manipulation.”

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