LG Electronics has announced its acquisition of an additional 30% stake in Bear Robotics, a California-based startup specializing in AI-powered server robots for restaurants, giving the South Korean electronics company a majority ownership of 51%.

The deal, reportedly worth around $180 million, values Bear Robotics at $600 million. LG Electronics declined to comment on the exact figure, stating that it would be disclosed once the deal closes. This investment comes less than a year after LG Electronics poured $60 million into Bear Robotics in March 2024, making it the largest shareholder at the time.

Bear Robotics is known for its expertise in AI technology, specifically in controlling multiple robots and managing fleets remotely. LG Electronics plans to integrate Bear Robotics with its commercial robot unit, which has developed "LG CLOi Robots," to reinforce its home robot and industrial robot divisions. The tech giant aims to develop a comprehensive software platform for commercial, industrial, and home robots using Bear's technology.

The acquisition is expected to improve LG Electronics' robotics software capabilities, as the industry moves towards AI-focused solutions. Bear Robotics' CEO and founder, John Ha, and the management team will remain and continue to create synergies with LG's robotics unit. 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.

Bear Robotics operates indoor delivery robots in the U.S., South Korea, and Japan, designed to help deliver food to restaurant customers. The startup has received backing from SoftBank and was previously valued at over $490 million in 2022, according to PitchBook data.

LG Electronics has been researching and developing robot software and hardware for over a decade. In 2017, the company deployed guide robots at South Korea's largest airport, Incheon International Airport. The company also has a substantial home robotics business through its LG Home Appliance Solution Division, which includes projects like the self-driving AI home hub, Q9, scheduled for release later this year.

LG's industrial robot, the "Autonomous Vertical Articulated Robot," uses sensors to navigate, move, and carry out tasks with its robotic arm. The company's interest in robotics goes back well before the recent trend of AI integration, with both Korea and Japan being early commercial adopters of the technology.

LG Electronics' move to acquire a majority stake in Bear Robotics is seen as a strategic step to position robots as a pivotal growth engine for the company. "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 Lee Sam-soo, chief strategy officer at LG Electronics.

The news comes as Samsung, LG's rival in the electronics sector, announced earlier this month that it will roll out its home robot in the first half of this year. The robotics industry is expected to continue growing, with companies like LG Electronics and Samsung investing heavily in AI-powered solutions.

In conclusion, LG Electronics' acquisition of a majority stake in Bear Robotics marks a significant step in the company's strategy to drive growth in the robotics industry. With the integration of Bear's AI technology, LG Electronics is poised to become a major player in the commercial, industrial, and home robotics sectors.