LG Electronics Invests $60 Million in Bear Robotics: Betting Big on AI-Powered Server Robots

LG Electronics Makes $60 Million Investment in Bear Robotics, Expanding into Robotics Market

LG Electronics, once a major player in the smartphone industry, is now shifting its focus to the world of robotics. The company recently announced a $60 million investment in Bear Robotics, a California startup known for its artificial intelligence-powered server robots designed for restaurants and other venues.

With this investment, LG Electronics becomes the largest shareholder in Bear Robotics, signaling its commitment to the growing robotics market. The investment comes at a time when startups in the space have faced challenges, but the current trend towards AI and technological advancements is providing a boost to robotics players.

Bear Robotics, founded in 2017 by former Google software engineer John Ha, has made a name for itself with its autonomous tray towers on wheels, known as Servi robots. These robots are designed to replace traditional waiters and have been successfully deployed in various settings in the U.S., South Korea, and Japan.

LG’s investment in Bear Robotics aligns with the company’s broader strategy to focus on growth areas such as smart homes, connected devices, IoT, EV components, and robotics and AI platforms. The company’s chief strategy officer, Lee Sam-soo, emphasized the importance of securing a competitive edge in the service robot market through this investment.

This move into robotics is not new for LG, as the company has been researching and developing software and hardware in the field for several years. In 2017, LG deployed guide robots at South Korea’s largest airport, showcasing its commitment to innovation in the robotics space.

The investment in Bear Robotics comes on the heels of LG CEO William Cho’s interest in equity investments in robotics specializing in delivery and logistics, as mentioned at CES 2024. This strategic move highlights LG’s dedication to exploring new opportunities and integrating cutting-edge technologies like Embodied AI and robotic manipulation.

As LG continues to expand its presence in the robotics market, this investment in Bear Robotics marks a significant step towards establishing itself as a key player in the industry. With a focus on innovation and collaboration, LG is poised to drive growth and development in the robotics sector in the years to come.