LG Invests in Bear Robotics: Strategic Partnership

 


LG Electronics is taking a strategic step to enhance its capabilities in service robotics by investing in Bear Robotics. The company has signed a stock purchase agreement to acquire a stake in the Silicon Valley-based startup for USD 60 million. This move is part of LG's long-term growth strategy, rather than focusing on immediate returns. After the purchase is finalized, LG will become the largest shareholder of Bear Robotics. During CES 2024, LG's CEO William Cho mentioned the company's interest in equity investments in the service robotics sector, particularly in delivery and logistics. Bear Robotics, founded in 2017 by CEO John Ha, is known for its AI-driven indoor delivery robots in the US, South Korea, and Japan. The company's team of engineers, including the co-founder and CTO, has experience in top tech firms. Bear Robotics is recognized for its expertise in service robotics software, robot fleet management, and cloud-based control solutions.


More Information : https://www.techdogs.com/tech-news/pr-newswire/lg-makes-strategic-investment-in-bear-robotics

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