CA-BEAR-ROBOTICS
12.3.2024 13:58:28 CET | Business Wire | Press release
Bear Robotics, a Silicon Valley trailblazer in service robotics and artificial intelligence solutions, today announced the completion of a $60 million Series C funding round. This round is exclusively led by LG Electronics, a global leader in technology and innovation. This strategic infusion propels Bear Robotics into new territories, targeting emerging markets such as smart warehousing and supply chain automation, where the company is poised to unveil its next-generation robotics platform, featuring autonomous navigation systems and adaptive learning algorithms, meticulously designed to meet the complex demands of modern supply chains and manufacturing processes.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240312368593/en/
Bear Robotics embarks on a new era, targeting breakthroughs in automation and accelerating the future of service robotics with $60 million in funding from LG Electronics. (Photo: Business Wire)
"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," stated 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."
At CES 2024, LG CEO William Cho highlighted the company's focus on the service robotics market and its openness to strategic equity investments to drive future growth. This investment in Bear Robotics represents a pivotal step in LG's strategy to lead the transformation in service robotics, aligning with market dynamics and the strategic evolution of its business models.
As the industry stands on the cusp of a robotics revolution, LG’s strategic investment in Bear Robotics underscores a shared vision for a future where robotics and AI are integral for industry success. "This investment will help secure a leading competitive edge for LG and Bear Robotics in the service robotics domain," noted Lee Sam-soo, Chief Strategy Officer at LG Electronics. "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."
Bear Robotics is gearing up for a transformative future, leveraging this strategic partnership to introduce groundbreaking solutions that respond to and foresee the needs of industries worldwide, setting new benchmarks in service efficiency and robotics innovation.
About Bear Robotics
Founded in 2017, Bear Robotics manufactures self-driving indoor robots to assist employees on daily tasks that can ease their workload. The Company’s flagship Servi robots have been deployed in hospitality, healthcare, retail, logistics and multi-story real estate venues in North America, Europe, and Asia. For additional information, please visit: www.BearRobotics.ai.
About LG Electronics, Inc.
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 84 trillion in 2023. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, automotive components and solutions, and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240312368593/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Diplomacy, Business, Innovation : SIAL Paris 2026 at the Heart of Global Food Challenges5.11.2026 10:00:00 CET | Press release
305,000 professionals, 8,000 exhibitors and 192 countries and regions represented: SIAL Paris reaffirms its role as a global platform for influence, business and food innovation. Held under the High Patronage of the President of the French Republic, SIAL Paris closed its doors on October 21 after five days that made Paris the centre of gravity for the global food industry. A meeting of G7 Agriculture Ministers, India as Country of Honour and food sovereignty were among the defining highlights of this edition. SIAL Paris, where nations come together Against a backdrop of geopolitical tensions and shifting international trade dynamics, SIAL Paris reinforced its role as a platform for international dialogue. On October 19, a high-level meeting dedicated to food security and sovereignty brought together Agriculture Ministers and G7 representatives, alongside European Commissioner Christophe Hansen. More than 100 diplomatic and international delegations attended the event. This internationa
Festo, Softcat, ANS Group and SCC Demonstrate the Business Impact of AI-Powered Observability5.11.2026 09:00:00 CET | Press release
LogicMonitor's 2026 EMEA Elevate Award winners are reducing alert noise, accelerating incident detection and transforming IT operations with AI and automation LogicMonitor®, the AI-first platform for Autonomous IT, announced the 2026 Elevate Award winners today at its Elevate Community Conference in London. The annual awards recognize LogicMonitor customers and partners that are achieving measurable business and operational outcomes through AI-powered observability. From consolidating 90% of monitoring tools and reducing alert noise by 85% to cutting observability case volumes by 45%, this year's EMEA winners demonstrate how organizations are simplifying complex IT environments, improving resilience and putting AI-powered operations into practice. “This year's EMEA Elevate Award winners are proving that the path to Autonomous IT starts with real, measurable improvements in how organizations operate,” said John Grosshans, President of Field Operations, LogicMonitor. “They're reducing co
New AGCO Power CORE Engines to Power Two New Tractors at EIMA 20265.11.2026 07:00:00 CET | Press release
AGCO Power’s CORE engine technology will be represented at EIMA International 2026 in new tractors from Massey Ferguson and Valtra. Developed from a clean sheet, the CORE engine family provides a next-generation platform for demanding off-highway applications. At EIMA International in Bologna, Italy, on November 10–14, 2026, visitors will be able to see how the AGCO Power CORE75 engine platform supports the different requirements of the Massey Ferguson new model MF 7S MARK 2 range and Valtra’s new sixth-generation Valtra T Series. A CORE75 engine will also be on display at the Valtra stand. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261104588496/en/ Massey Ferguson 7S MARK 2 The CORE engine family represents AGCO Power’s investment in a completely new engine platform at a time when few manufacturers are making comparable commitments to off-highway combustion engine development. The CORE engine family is designed to meet
SPIE Announces 2027 Prism Awards Finalists for Best Photonics Products4.11.2026 21:22:00 CET | Press release
The 19th annual competition recognizes groundbreaking technologies around the globe SPIE, the international society for optics and photonics, has announced finalists in the seven categories for the 2027 Prism Awards, which recognize remarkable new photonics products on the market. Winners will be announced during the awards ceremony at SPIE Photonics West on 3 February 2027 in San Francisco, California. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261104613876/en/ SPIE has announced the finalists for the 2027 SPIE Prism Awards, which recognize optics and photonics innovations. Recipients will be announced at the awards ceremony on 3 February 2027 at SPIE Photonics West. During the Prism Awards, SPIE will also announce the winner of the SPIE Catalyst Award, honoring a for-profit company with social or environmental programs that have made significant advances in workplace opportunity, community engagement, or environmental
Every Critical System Should Have a Backup: Elliptic Opens Up Fast Track Monitoring to the Crypto Industry4.11.2026 21:07:00 CET | Press release
Fast Track Monitoring, powered by Elliptic Lens, gives compliance teams screening continuity when they need it most Elliptic, the leader in on-chain risk management, is making Fast Track Monitoring available to firms with digital assets exposure as a back up screening option for firms that need business continuity, if their primary screening service is unavailable and they need a second option. Criminals are increasingly using AI to scale their attacks, so on-chain risk now moves at machine speed. Compliance teams need the broadest range of options to keep screening every wallet and transaction, and a second screening provider builds resilience into any on-chain risk management approach. Elliptic recommends every business has one in place. Organizations that rely on a single screening vendor can also still need a second option. Fast Track Monitoring gives compliance teams real-time wallet and transaction screening powered by Elliptic Lens, with a clear, explainable risk score on every
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom