{"id":1797,"date":"2024-03-13T09:26:29","date_gmt":"2024-03-13T09:26:29","guid":{"rendered":"https:\/\/www.founderlabs.in\/?p=1797"},"modified":"2024-11-18T10:42:17","modified_gmt":"2024-11-18T10:42:17","slug":"lg-invests-60-million-in-us-startup","status":"publish","type":"post","link":"https:\/\/www.founderlabs.in\/?p=1797","title":{"rendered":"LG Invests $60 million in US Startup Bear Robotics"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">LG Electronics recently said it has made a $60 million strategic investment in Silicon Valley-based StartUp Bear Robotics.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This comes as it moves to strengthen its business capabilities in the booming market of artificial intelligence-based service robots. The company was founded in 2017 by former Google software engineer John Ha.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under a new stock purchase agreement, LG Electronics will become the largest single shareholder in the US startup specialising in AI-driven autonomous service robots.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bear Robotics offers AI-powered indoor delivery robot services in the United States, South Korea and Japan, reports Yonhap news agency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>&#8220;Rather than seeking short-term returns, this strategic investment is aimed at bolstering LG Electronics&#8217; portfolio for long-term growth,&#8221; the company said in a statement.<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Startup is well known for its expertise in platformising service robotics software, robot fleet management technology and cloud-based control solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LG Electronics said the latest investment is also in line with its long-term strategy to transition from a hardware-centric to a software-oriented company, following its exit from the mobile phone manufacturing business in 2021.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The move is also part of a broader strategy outlined by LG Electronics CEO Cho Joo-wan in January, which emphasized exploring investments or mergers and acquisitions within the service robotics market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company is anticipated to grow in robotics market is anticipated to grow from $36.2 billion in 2021 to $103.3 billion by 2026, according to LG Electronics.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The move is also part of a broader strategy outlined by LG Electronics CEO Cho Joo-wan in January, which emphasized exploring investments or mergers and acquisitions within the service robotics market. The global service robotics market is anticipated to grow from $36.2 billion in 2021 to $103.3 billion by 2026, according to LG Electronics.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LG Electronics has already taken steps into this promising sector, operating a guide robot service at Incheon International Airport, west of Seoul, since 2017 and introducing delivery and disinfection solutions for diverse commercial settings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>(Image courtesy:Zeebiz.com)<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LG Electronics recently said it has made a $60 million strategic investment in Silicon Valley-based StartUp Bear Robotics. This comes as it moves to strengthen its business capabilities in the booming market of artificial intelligence-based service robots. The company was founded in 2017 by former Google software engineer John Ha. Under a new stock purchase [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[643],"tags":[519,525,521,524,523,518,522,520],"class_list":["post-1797","post","type-post","status-publish","format-standard","has-post-thumbnail","category-start-up-news","tag-bear-robotics","tag-ceo","tag-investment","tag-lg-electronics","tag-lg-invests","tag-robotics","tag-silicon-valley","tag-start-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.3 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>LG Invests $60 million in US Startup Bear Robotics - Founderlabs<\/title>\n<meta name=\"description\" content=\"LG Electronics recently made a $60 million strategic investment in Silicon Valley-based StartUp Bear Robotics,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.founderlabs.in\/?p=1797\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LG Invests $60 million in US Startup Bear Robotics\" \/>\n<meta property=\"og:description\" content=\"LG Electronics recently made a $60 million strategic investment in Silicon Valley-based StartUp Bear Robotics,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.founderlabs.in\/?p=1797\" \/>\n<meta property=\"og:site_name\" content=\"Founderlabs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/founderlabsindia\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-13T09:26:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-18T10:42:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.founderlabs.in\/wp-content\/uploads\/2024\/03\/hhhhhhhhhhhhhh.png\" \/>\n\t<meta property=\"og:image:width\" content=\"903\" \/>\n\t<meta property=\"og:image:height\" content=\"694\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gargi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@founderlabs_ind\" \/>\n<meta name=\"twitter:site\" content=\"@founderlabs_ind\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gargi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=1797#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=1797\"},\"author\":{\"name\":\"Gargi\",\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/#\\\/schema\\\/person\\\/afab350a7a241df759bfd7f712a8039d\"},\"headline\":\"LG Invests $60 million in US Startup Bear Robotics\",\"datePublished\":\"2024-03-13T09:26:29+00:00\",\"dateModified\":\"2024-11-18T10:42:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=1797\"},\"wordCount\":319,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=1797#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.founderlabs.in\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/hhhhhhhhhhhhhh.png\",\"keywords\":[\"Bear Robotics\",\"CEO\",\"Investment\",\"LG electronics\",\"LG Invests\",\"Robotics\",\"Silicon valley\",\"Start up\"],\"articleSection\":[\"Ecosystem Updates\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.founderlabs.in\\\/?p=1797#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=1797\",\"url\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=1797\",\"name\":\"LG Invests $60 million in US Startup Bear Robotics - 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