Hardware

LG Electronics takes big stake in Bear Robotics

Photo: Courtesy of LG Electronics

February 6, 2025

LG Electronics has secured a majority stake in Bear Robotics, a startup specializing in AI-driven autonomous service robots.

The acquisition aligns with LG's strategy to strengthen its presence in the robotics sector, a key growth area for the company, according to a press release.

It follows an initial investment of $60 million in March 2024, which secured LG a 21 percent stake and a call option agreement for up to an additional 30 percent stake. Upon completion of the call option exercise, LG will hold a controlling 51 percent stake in Bear Robotics, effectively incorporating it as a subsidiary.

As part of this move, LG's commercial robot business, primarily centered around "LG CLOi Robots," will be integrated with Bear Robotics. The key management team of Bear Robotics, including CEO John Ha, will remain in place.

"This additional investment underscores our dedication to positioning robots as a pivotal growth engine for the company, reflecting our belief in their inevitable role in the future," Lee Sam-soo, chief strategy officer at LG Electronics, said in the release. "We will persist in driving innovation across all sectors of robotics, encompassing commercial, industrial and home applications."