LG Electronics is betting on robotics as its subsequent massive progress driver. The South Korean electronics firm stated on Friday that it has agreed to amass an extra 30% stake in Bear Robotics, a California-based startup it beforehand backed that’s constructing AI-powered server robots for eating places. The deal offers LG a majority possession of 51% within the startup, which can now turn out to be a subsidiary of the bigger firm. LG declined to touch upon the worth of its newest stake; a native outlet in Korea say it’s round $180 million. If correct, that might give Bear an total valuation of $600 million.
An organization spokesperson added that the precise determine could be disclosed as soon as the deal closes.
Bear is understood for its experience in AI expertise that’s able to controlling a number of robots, particularly the administration of fleets remotely, LG stated in its assertion. The tech large intends to combine Bear with its business robotic unit, which has developed “LG CLOi Robots,” to strengthen its residence robotic and industrial robotic divisions.
The tech behemoth says it’s engaged on growing a complete software program platform for business, industrial, and residential robots utilizing Bear’s expertise. With the robotics business transferring extra in the direction of AI-focused options, this funding and deal is anticipated to enhance LG’s robotics software program capabilities, LG stated.
The information comes lower than a 12 months after the electronics firm poured $60 million into Bear Robotics in March 2024. That deal already made LG into Bear’s largest shareholder. Bear’s earlier funding in 2022 valued it at over $490 million, per PitchBook information.
CEO and founder John Ha and the Bear administration staff will stay and proceed to assist create synergies with LG’s robotics unit.
Ha, a former Google software program engineer turned restaurateur, based Bear in 2017 after witnessing the challenges of working a restaurant, which motivated him to develop serving robots. The SoftBank-backed startup operates indoor supply robots within the U.S., South Korea, and Japan. Its robots are designed to assist ship meals to restaurant prospects.
“This additional investment underscores our dedication to positioning robots as a pivotal growth engine for the company, reflecting our belief in their inevitable role in the future,” Lee Sam-soo, chief technique officer at LG Electronics, stated within the assertion. “We will persist in driving innovation across all sectors of robotics, encompassing commercial, industrial and home applications.”
Robots and robotics have been a bit theme this 12 months at CES 2025, and LG made itself part of that story. with LG CEO William Cho emphasizing the potential for robots to broaden their functions past their present roles in sectors like hospitality and supply logistics.
LG’s curiosity within the tech goes again properly earlier than this 12 months and the latest vogue of AI in all the things, with each Korea and Japan being early business adopters of among the earliest iterations within the area. The Korean electronics firm has been researching and growing robotic software program and {hardware} greater than a decade. In 2017, LG deployed information robots at South Korea’s largest airport, Incheon Worldwide Airport.
LG additionally has a considerable residence robotics enterprise by means of its LG Dwelling Equipment Resolution Division. Its residence robots are designed to work with residence home equipment and different home situations. One instance the self-driving AI residence hub, a mission named Q9, which is scheduled for launch later this 12 months. It has autonomous driving expertise and may sense voices, sounds, and pictures. The Q9 has Microsoft’s voice recognition and synthesis expertise, so customers can have straightforward and pure conversations with it.
Its industrial robotic, the “Autonomous Vertical Articulated Robot,” makes use of sensors to navigate, transfer, and perform duties with its robotic arm.
Samsung, LG’s rival within the electronics sector, stated earlier this month that it’s going to roll out its residence robotic within the first half of this 12 months.
