LG Electronics Secures 51% Stake in Bear Robotics to Advance AI Robotics
SEOUL, 24th January, 2025 – In a significant advancement in the field of AI-based robotics, LG Electronics (LG) has acquired a majority 51% of Bear Robotics, a Californian company that specializes in service robots.
This acquisition is expected to support the enhancement of LG’s commercial robot portfolio and allow innovations in other industrial and household applications as well.
This acquisition follows LG’s decision to exercise a call option, securing an additional 30% stake in Bear Robotics. This builds on its initial investment of $60 million in March 2024, which previously gave LG a 21% stake.
A majority stake means that Bear Robotics now acts as a subsidiary of LG. Existing Management including CEO John Ha will remain as part of the organization to ensure continuity and AI Robotics innovation.
“We are excited to collaborate with LG to create a next-generation robotics ecosystem,” he noted.
LG’s CEO, William Cho gave enthusiasts and investors alike, insight into the Q9 Self-driving AI Hub. This device is the first of Bear Robotics’ AI powered home robotics line.
The Q9 looks to integrate itself to every major appliance in the home over time and combine that with advanced multimodal sensing and autonomous navigation.
“Robots are a certain future, and LG’s vision of a ‘Zero-labor Home’ will redefine how technology serves humanity,” Cho mentioned in more detail.
Bear robotics has unmatched knowledge in AI platform robotics. This combined with LG’s overall strategy in robotics enables for the creation of an integrated AI software platform.
This strategy is going to deliver unified and certain experiences at homes, industries, and even robots.
“Our investment in Bear Robotics underlines our pledge to robots becoming the heart of our strategy for growth,” noted Lee Sam-soo Chief Strategy Officer from LG Electronics.
He noted that it is LG’s goal to along with increasing operational effectiveness, to customize solutions for clients through the global sales net and advanced AI. Together with Bear robotics, and LG’s knowledge in AI and manufacturing, the combination aims at giving rise to the most competitive cutting edge robotics solutions.
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