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LG Electronics takes majority stake in Bear Robotics, reportedly valuing startup at $600M
LG Electronics is betting on robotics as its next big growth driver. The South Korean electronics company said on Friday that it has agreed to acquire an
Ha, a former Google software engineer turned restaurateur, founded Bear in 2017 after witnessing the challenges of running a restaurant, which motivated him to develop serving robots. with LG CEO William Cho emphasizing the potential for robots to broaden their applications beyond their current roles in sectors like hospitality and delivery logistics. LG’s interest in the tech goes back well before this year and the recent vogue of AI in everything, with both Korea and Japan being early commercial adopters of some of the earliest iterations in the field.
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