LG Electronics, the maker of home appliances, TVs and other electronics, acquired a majority stake in Bear Robotics, which is known for its robotic waiter, Servi.
LG said the deal would help it grow its own robotics division, and plans to integrate Bear into its line of commercial robots called CLOi. Bear CEO John Ha will oversee the combined segment.
Bear’s flagship robot, Servi, can deliver food to tables and bus tables. It comes in a few models, from the compact Servi Mini to the Servi+, which can carry up to four large trays at once.
The bots are powered by artificial intelligence. LG said it would use Bear’s AI to enhance its existing robotics software. Bear also has software that allows restaurants to manage their robot fleet.
The deal comes as restaurants continue to view automation as a solution to their mounting labor challenges. A Bear robot, for instance, could help ease the workload on front-of-house staff. Restaurants are also using robots or AI to make french fries, answer the phone and take orders in the drive-thru.
At the CES tech expo earlier this month, LG CEO William Cho said robots are “a certain future.”
“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,” said LG Electronics Chief Strategy Officer Sam-soo Lee in a statement.
Redwood City, California-based Bear was founded in 2017 and has raised more than $173 million across a series of funding rounds. That includes a $60 million investment from LG in March that gave it a 21% stake in Bear and the option to increase its stake by 30%. LG exercised the option this week and now owns 51% of the company.
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