LG acquires stake in Bear Robotics, an AI-enabled autonomous service robot company in Silicon Valley, USA

LG is making a strategic investment to accelerate its capabilities in the service sector, with service robots being a key new business area for the company.

LG Electronics has signed an agreement to acquire shares in Bear Robocs, an autonomous service robot company in Silicon Valley, USA, with an investment of US$60 million (over RMB 400 million).

The purpose of this strategic investment is not to seek short-term returns, but to strengthen LG's portfolio for long-term growth.

After the stock acquisition is completed, LG Electronics will hold the largest share of Bear Robotics as a single shareholder.

Bear Robotics was founded in 2017 by John Ha, former senior software and technology director at Google, to cater to the demand for artificial intelligence indoor delivery robots in the US, South Korea and Japan markets.

The company has a team of skilled engineers who all have backgrounds working in the company.

Bear Robotics has also attracted attention in service robot software platformization, robot fleet management technology and cloud-based control solutions.

LG Electronics aims to combine Bear Robotics' R&D talent and software platform expertise with LG Electronics' strengths to take the lead in standardizing robot platforms, thereby significantly reducing the cost of entering the market, improving operational efficiency and forming synergies.

Review editor: Liu Qing