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2024: LG buys stake in Bear Flag Robotics
On March 12, 2024, the company LG announced the acquisition startup of a stake in Bear Robotics from, Silicon Valley which specializes in the creation of autonomous robot waiters with. artificial intelligence These machines are designed to reduce the burden on service personnel in cafes, bars, restaurants and other establishments.
LG acquired a stake in Bear Robotics in exchange for a $60 million investment. It is said that these are strategic investments aimed at ensuring long-term growth. Upon completion of the transaction, LG will own the largest portion of Bear Robotics shares on a sole basis.
 | In the service robotics market, we focus primarily on areas such as delivery and logistics. However, we are also carefully exploring other areas, leaving open opportunities for equity investments or mergers and acquisitions of promising companies, says LG CEO William Cho. |  |
Startup Bear Robotics was founded in 2017. Its CEO is John Ha, a former senior software engineer and tech executive at Google. The company is conducting research in the development of specialized software for service robotics, fleet management technologies and related cloud solutions.
It is noted that LG is striving to switch to software-defined robotics (SDR). The company intends to design service robots on an open architecture software platform that can serve various market segments. At the same time, it is planned to actively use AI tools. Globally, the service robotics market is expected to grow from $36.2 billion in 2021 to $103.3 billion by 2026.[1]
Notes
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