Bear Robotics, a company specializing in service robotics and artificial intelligence solutions, has recently completed a $60 million Series C funding round led by LG Electronics. This investment marks a substantial step for the Redwood City-based firm, as it aims to expand into new markets such as smart warehousing and supply chain automation. Bear Robotics plans to develop its next-generation robotics platform, which includes autonomous navigation systems and adaptive learning algorithms, to cater to the evolving demands of supply chains and manufacturing processes.
John Ha, CEO of Bear Robotics, commented on the partnership with LG, emphasizing the strategic nature of the alliance. He noted that the company intends to leverage its experience in the hospitality sector to tailor its technology for smart warehousing and supply chain automation. This move is seen as an extension of the company’s capabilities in different environments.
At CES 2024, LG CEO William Cho highlighted the company’s interest in the service robotics market and its strategy for future growth, which includes strategic equity investments. This investment in Bear Robotics aligns with LG’s objectives to expand its presence in this sector.
Lee Sam-soo, Chief Strategy Officer at LG Electronics, pointed out that the investment in Bear Robotics is aligned with the company’s goals of leading in the service robotics market. LG aims to integrate advanced technologies such as Embodied AI and robotic manipulation to enhance its robotics business.
Bear Robotics, established in 2017, focuses on manufacturing self-driving indoor robots that assist with various tasks in sectors like hospitality, healthcare, retail, logistics, and real estate. The company’s notable product, Servi robots, has seen deployment across North America, Europe, and Asia. For more information, visit www.BearRobotics.ai.
