
This photo, provided by LG Electronics Co., shows Bear Robotics’ service robots, Servi Plus. (Image courtesy of Yonhap)
SEOUL, Jan. 24 (Korea Bizwire) — LG Electronics Inc. said Friday it has decided to secure management rights to a California-based artificial intelligence (AI) robotics startup as part of its push to expand its robotics business.
At its board of directors meeting, LG Electronics decided to increase its stake in Bear Robotics to 51 percent by exercising a call option on its initial 21 percent holding, the company said.
LG Electronics had invested US$60 million in the startup in 2024.
With this increase, LG Electronics will secure management control of the startup, which will be incorporated as a subsidiary under its consolidated financial statements, the company added.
Founded in 2017 by Google’s former software engineer John Ha, Bear Robotics offers AI-powered indoor delivery robot services in the United States, South Korea and Japan.
The startup is well-known for its expertise in developing service robotics software, robot fleet management technology and cloud-based control solutions.
LG Electronics said the collaboration with Bear Robotics will lead to the upgrading of software capabilities of LG Electronics’ entire robot business.
With Bear Robotics’ software, the company could build an integrated solution platform covering commercial, industrial and home robots, offering customers advanced robotics solutions.
“This additional investment is in line with LG Electronics’ unwavering commitment to growing robotics as a new growth engine,” said Lee Sam-soo, chief strategy officer at LG Electronics. “We will continue to innovate in all areas of the robotics business, including commercial, industrial and home applications.”
(Yonhap)