CA-BEAR-ROBOTICS
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
Tinaba with Banca Profilo Strengthens Its Global Positioning and Launches Digital Payments in the Chinese Mainland with Alipay+23.1.2026 02:41:00 CET | Press release
Through the “Pay Worldwide with Alipay+” feature available in the App, users can pay in the Chinese mainland at over 80 million merchants Tinaba with Banca Profilo announces the launch of digital payments in the Chinese mainland through the extension of its strategic partnership with Alipay+, Ant International’s global wallet gateway solution, bringing a simple, cashless and local payment experience to Italian travellers in the world’s largest digital market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260122062969/en/ Matteo Arpe, President of Tinaba with Banca Profilo, announces the expanded partnership with Alipay+ in Milan, Italy Starting today, users can pay in the Chinese mainland at over 80 million merchants simply by scanning a QR code directly from the Tinaba App. This innovation is particularly significant in a country where digital payments are the everyday standard and cash is increasingly less used. The servi
Andersen Consulting indgår samarbejde med Africa International Advisors22.1.2026 22:10:00 CET | Pressemeddelelse
Andersen Consulting udbygger sine kompetencer inden for strategi og forretningstransformation i Afrika gennem en samarbejdsaftale med Africa International Advisors (AIA), en Johannesburg-baseret virksomhed, der fokuserer på at forbedre virksomheders konkurrenceevne gennem sektorspecifik indsigt, innovation og rådgivning. AIA blev stiftet i 2002 og er et panafrikansk managementkonsulentfirma, der leverer strategibaserede rådgivningsydelser med fokus på digital transformation og ai-drevne forretningsresultater. Firmaet rådgiver kunder på tværs af sektorer, herunder energi og ressourcer, olie og gas, infrastruktur, handel og logistik, finansielle tjenesteydelser, bankvæsen og telekommunikation. AIA's strategiske perspektiv, lokale troværdighed og markedsadgang gør det muligt at udvikle og implementere løsninger, der samkører mennesker, processer og teknologi med henblik på at skabe meningsfuld forandring. "Vores mission har fra begyndelsen været at fremme udviklingen gennem en Afrika-cent
iQmetrix Announces First-Ever "Telecom Retail Summit" at MWC Barcelona 202622.1.2026 19:48:00 CET | Press release
Leading software provider challenges the industry on the growing disconnect between telecom innovation and the store experience. iQmetrix, the only global provider of Interconnected Commerce solutions for telecom retail, today announced its return to Mobile World Congress (MWC) Barcelona with the first-ever Telecom Retail Summit. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260122446809/en/ As the industry converges for MWC Barcelona 2026, iQmetrix prepares to host the first-ever Telecom Retail Summit, transforming the conversation from network intelligence to the intelligent storefront. The exclusive half-day summit designed to spark an overdue conversation: telecom sells the most advanced technology on earth, yet delivers one of the least inspiring retail experiences in modern commerce. Bringing together telecom industry leaders, futurists, and retail innovators, the Telecom Retail Summit challenges the industry to rethi
SPIE Announces the Best New Products in the Photonics Industry at Its 18th Annual Prism Awards22.1.2026 17:44:00 CET | Press release
The industry-focused awards recognized innovations in areas such as lasers, quantum tech, sensors, optical materials and components, and XR tech On 21 January, SPIE, the international society for optics and photonics, recognized the top-rated new optics and photonics products with the industry-focused Prism Awards. The gala evening, held during SPIE Photonics West, marked the Prism Awards’ 18th year of honoring companies that are bringing transformative products to market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260122875759/en/ Each year, the SPIE Prism Awards reflect the rapidly growing trajectory, exciting latest developments, and rich technical innovations across photonics and photonics-enabled industries. Each year, the SPIE Prism Awards reflect the rapidly growing trajectory, exciting latest developments, and rich technical innovations across photonics and photonics-enabled industries. This year, the annual cere
Fabasoft Positioned as a Challenger in the 2026 Gartner® Magic Quadrant™ for Quality Management System Software22.1.2026 17:15:00 CET | Press release
Analyst firm publishes overview of providers of quality management software Fabasoft, a leading European cloud vendor for document and business process management, has been positioned as a Challenger with its Fabasoft Approve product by Gartner® in its first Magic Quadrant™ 2026 for Quality Management System Software. In the report, the analyst firm recognizes the company’s strengths and cautions. “Gartner defines the market for quality management system (QMS/eQMS) software as stand-alone digital solutions with embedded emerging technological capabilities that enable organizations to systematically manage, monitor and improve the quality of their products, processes and services.” In its independent report, the IT analyst firm evaluated 12 different vendors based on 15 weighted criteria. “We are delighted that Gartner has positioned our QMS as a Challenger. We see this as confirmation of our strategic direction and our technological innovations, particularly in the field of AI. At the
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