LG Electronics building. (Photo=Yonhap News)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] LG Electronics announced on December 12 that it will invest 80 billion won in US service robot startups.

LG Electronics invested in 'Bear Robotics' based in Redwood City, Silicon Valley, USA. It is engaged in autonomous driving service robot business based on artificial intelligence (AI). LG Electronics signed a contract to acquire a stake in Bear Robotics by investing $ 60 million.

When the stock trading is closed, LG Electronics will become the largest shareholder of Bear Robotics based on a single shareholder.

Bear Robotics was founded in 2017. It is led by Ha Jung-woo, who worked as a Google software engineer tech lead. It provides services not only in Korea but also in the United States and Japan with AI-based autonomous indoor delivery robots.

We have a number of engineers from Big Tech, including co-founder Chief Technology Officer (CTO) and Google. Open platform-based robot development capabilities are rated at the level of global top (Top).

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