The company will integrate Bear Robotics into LG’s robotics division.

Servi+ Delivery Robots. Source: Bear Robotics

The startup was founded in 2017 by restaurateur and former Google programmer John Ha. Bear Robotics’ server robots are used in the United States, South Korea, and Japan.

LG has acquired an additional 30% of Bear Robotics’ shares and will integrate the startup into its robotics division, which developed the LG CLOi line of robots for serving hotels, restaurants, and shopping malls.

LG declined to comment on the cost of the latest deal. However, media reports suggest it amounts to approximately $180 million, with the startup’s total valuation estimated at $600 million.

In March 2024, LG had already invested $60 million in Bear Robotics. Following this latest transaction, LG’s stake in the startup has increased to 51%.

In addition to server robots designed for restaurant guests, Bear Robotics has developed technology for remotely managing multiple machines using AI. LG plans to incorporate this technology into its own devices.