LG Acquires Majority Stake in Bear Robotics
🤖 LG Electronics secures a majority stake in Bear Robotics, a Silicon Valley startup specializing in AI robots, by acquiring an additional 30% stake on Jan. 22, after an initial $60 million investment for a 21% stake in March 2024. LG now holds a controlling 51% in Bear Robotics, integrating it as a subsidiary. The commercial robot business, including LG CLOi Robots, will unite with Bear Robotics, while John Ha and his team continue to lead. Bear Robotics, established in 2017, is known for its AI-powered indoor delivery robots in the U.S., South Korea, and Japan. LG aims to strengthen its commercial, home, and industrial robot segments, with plans to release the Self-driving AI Home Hub (Q9) within the year, featuring Microsoft's voice technology. LG's advanced manufacturing and global sales will enhance its robotics business efficiency and market reach.
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