- Companies
- Bear Robotics
Bear Robotics Acquisition, Valuation, Funding & Investors
Bear Robotics was acquired by LG Electronics for $1.2B in January 2025.
Bear Robotics acquisition price
$1.2B
Acquired by LG Electronics · Jan 2025
Cumulative funding Bear Robotics raised
$176M
across 5 funding rounds
Key investors in Bear Robotics
SoftBank Group
Smilegate Investment
DSC Investment
Charlie Songhurst
FuturePlay
Cleveland Avenue
Vela Partners
LG Electronics
About Bear Robotics
Bear Robotics is a Redwood City-headquartered robotics company deploying AI-powered serving robots in restaurants worldwide. Its Servi model navigates crowded dining rooms to deliver food and clear tables, integrating with POS systems like Toast for order fulfillment. Deployed in 500 locations across the US, Japan, and South Korea, the robots handle 1,000 daily interactions per unit. Founded in 2017, Bear partners with chains like Kura Sushi and raised $70 million from investors including SoftBank to expand to 10,000 units by 2025.
Founded
2017
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$1.2B (acquired Jan 2025)
Bear Robotics Acquisition
Bear Robotics was acquired by LG Electronics for $1.2B on 24 January 2025.
Before the acquisition Bear Robotics had raised $176M across 5 funding rounds.
Bear Robotics, a Silicon Valley-based startup founded in 2017, develops AI-driven autonomous service robots for indoor delivery in hospitality and logistics, with expertise in distributed multi-robot control, remote fleet management, and AI-powered robot platforms serving markets in the US, South Korea, and Japan. LG Electronics, a South Korean electronics giant, exercised a call option on January 22, 2025, to acquire an additional 30% stake in Bear Robotics for a reported $180 million, bringing its ownership to a controlling 51% and valuing the startup at $600 million post-money. This follows LG's initial $60 million investment in March 2024, which secured a 21% stake and the call option, making Bear Robotics an LG subsidiary while retaining key management including CEO John Ha. LG plans to integrate its commercial robot business, centered on LG CLOi Robots, with Bear Robotics to create synergies across commercial, industrial, and home robot divisions, developing a comprehensive AI-focused software platform to shorten development cycles and enhance software capabilities amid industry shifts toward AI solutions. The move positions robotics as a core growth engine for LG, leveraging Bear's fleet management technology with LG's AI, manufacturing, supply chain, and B2B/B2C expertise to boost competitiveness, as emphasized by LG executives at CES 2025. Bear's prior 2022 funding valued it at over $490 million.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 24 Jan 2025 | Strategic M&A | $1.2B |
Bear Robotics Funding History
Bear Robotics has raised a total of $176M across 5 funding rounds.
Bear Robotics' first fundraising round was a $800K angel round in June 2017. The most recent completed round was a $60M Series C in March 2024.
Bear Robotics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2024 | Series C | LG Electronics (lead) | $60M | Bear Robotics, a Silicon Valley-based startup founded in 2017, specializes in AI-driven autonomous service robots, particularly indoor delivery robots for hospitality, with expertise in distributed multi-robot control, remote fleet management, and AI-powered platforms serving markets in the US, South Korea, and Japan. The company completed a $60 million Series C funding round in March 2024, exclusively led by LG Electronics, which acquired a 21% stake through this investment and included a call option for an additional up to 30% stake. This strategic partnership aims to expand Bear Robotics into smart warehousing, supply chain automation, and manufacturing, leveraging next-generation robotics with autonomous navigation and adaptive learning algorithms to enhance efficiency. LG views the investment as a long-term play to build its service robotics portfolio, combining Bear's software and R&D with LG's manufacturing and supply chain strengths to standardize robot platforms and reduce market-entry costs. Post-round, LG became the largest single shareholder, positioning Bear Robotics for growth in delivery, logistics, and beyond hospitality into commercial, industrial, and home robots. The funding supports innovation in embodied AI and robotic manipulation, aligning with LG's Future Vision 2030 to become a smart life solution company with targets for 7%+ growth and operating profit. In January 2025, LG exercised its call option, acquiring an additional 30% stake to reach a controlling 51% ownership, making Bear Robotics a subsidiary and accelerating synergies in commercial robot businesses for hotels, restaurants, production processes, and home assistance. This follow-on bolsters LG's robotics as a growth engine across sectors. |
| Mar 2022 | Series B | IMM (lead); Cleveland Avenue; Smilegate Investment; DSC Investment; IMM Private Equity; KT | $81M | Bear Robotics is a Redwood City, California-based autonomous robotics company founded in 2017 that develops service robots for the hospitality industry. The company's flagship product, Servi, is a fully autonomous mobile robot designed to deliver food and beverages, bus tables, and perform other repetitive tasks in restaurants and hospitality venues. The company also offers Servi Mini, a smaller variant optimized for bar service and drink delivery. In March 2022, Bear Robotics announced an $81 million Series B funding round led by Korean investment firm IMM Investment Corp., with participation from Cleveland Avenue and other existing investors. This brought the company's total venture funding to $117 million, following a $32 million Series A led by SoftBank in January 2020. The company deployed the new capital to accelerate product development, expand into new geographic markets globally, and hire additional talent. By the time of the Series B announcement, Bear Robotics had achieved significant operational traction, having shipped 5,000 robots to customers in less than two years and operating across 33 U.S. states, 4 countries, and 2 continents. The company's robots had delivered to over 28 million tables and traveled more than 335,000 miles. Major customers included Denny's, Chili's, Compass Group, Marriott, and Pepsi, with the largest markets at that time in South Korea and Japan. The company maintained a team of 200 people at the time of the announcement. Post-money valuation for the Series B round was not disclosed by the company in public statements. |
| Jan 2020 | Series A | SoftBank Group (lead); Lotte Accelerator; Smilegate Investment; DSC Investment; Vela Partners | $32M | Bear Robotics, founded in 2017 and headquartered in Redwood City, California, develops AI-powered autonomous mobile robots (AMRs) for the hospitality and food service industries, focusing on tasks like serving and delivery to improve efficiency, service quality, and profitability in restaurants. The company has raised over $175M across multiple rounds from investors including SoftBank, with total funding reported variably as $141M to $190M in estimates. A Series C round on March 11, 2024, valued the company at $285.71M post-money. Bear Robotics has grown to 200-250 employees and deployed robots enhancing dining experiences, employee satisfaction, and restaurant profits via computer vision, machine learning, and navigation tech. In January 2025, LG Electronics acquired a corporate majority stake, marking a significant development. The company invested in M2MTech in April 2023. |
| Apr 2018 | Seed | Woowa Bros | $2M | - |
| Jun 2017 | Angel | Line; John Ha; SoftBank Group; Founder Friendly Labs; Charlie Songhurst; FuturePlay | $800K | - |
Who has invested in Bear Robotics?
16 investors have backed Bear Robotics across its funding rounds, including SoftBank Group, Smilegate Investment, DSC Investment, Charlie Songhurst, FuturePlay and Cleveland Avenue.
Lead investors include LG Electronics, IMM and SoftBank Group.
Bear Robotics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jun 2017 | ||
| 2 | Participant | Jan 2020 | ||
| 2 | Participant | Jan 2020 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Lead | Mar 2022 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Jan 2020 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Apr 2018 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Jan 2020 | ||
This data is available for Pro users. Sign up to see all 16 Bear Robotics investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Bear Robotics
Bear Robotics has acquired 1 company to date.
Last acquisition by Bear Robotics was on June 21st 2026. Bear Robotics acquired KINISI for undisclosed valuation.
Latest Acquisitions by Bear Robotics
| Description | KINISI is a developer of general-purpose mobile manipulation robots for industrial automation. The company builds single-armed wheeled humanoid systems that perform physical tasks such as lifting, sorting, palletizing, and assembly in warehouses, factories, and storerooms. Platforms combine actuators, balance mechanics, and onboard large language model intelligence for operation without cloud connectivity, with training through demonstration for pick and place, material flow, and inspection workflows in logistics and manufacturing. |
| HQ Country | |
| HQ City | London |
| Deal Date | 21 Jun 2026 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Bear Robotics acquisitions and their M&A valuation multiples. Start Free Trial | |
Bear Robotics Competitors
Bear Robotics competitors include listed companies like Arcs Co and Zen Technologies, and private ones like PuduTech, Picnic, Locus Robotics and Adept AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.5B | - | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $4B | $184M | $1.3B | 0.2x | ||
| Private | $150M | - | $1.4B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $72M | $27M | $1.6B | 15.5x |
Bear Robotics Public Comps
Bear Robotics is no longer listed, but its public comps include Braiin, Ziyan Foods, Plejd, Kraken Robotics, TAB Gıda, Guangzhou Restaurant Group, Ichibanya, Biglari Holdings, BJ's Restaurants and Domino's Pizza Enterprises.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $73M | ($15M) | 15.9x | 13.1x | (76.6x) | 90.1x | |||
| $483M | $65M | 2.3x | 2.2x | 17.3x | 17.6x | |||
| $95M | $32M | 11.7x | 9.4x | 34.5x | 26.0x | |||
| $73M | $10M | 16.3x | 6.7x | 121.2x | 28.9x | |||
| $978M | $158M | 1.3x | 1.0x | 8.0x | 5.3x | |||
| $803M | $136M | 1.6x | 1.5x | 9.2x | 9.1x | |||
| $419M | $40M | 2.5x | 2.4x | 26.3x | - | |||
| $395M | $7M | 2.8x | - | 165.1x | - | |||
This data is available for Pro users. Sign up to see all Bear Robotics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Bear Robotics
| When was Bear Robotics founded? | Bear Robotics was founded in 2017. |
| Where is Bear Robotics headquartered? | Bear Robotics is headquartered in San Francisco, CA, United States. |
| Is Bear Robotics publicly listed? | No, Bear Robotics was acquired by LG Electronics in January 2025. |
| Who acquired Bear Robotics? | Bear Robotics was acquired by LG Electronics in January 2025. |
| How much was Bear Robotics acquired for? | Bear Robotics was acquired for $1.2B in January 2025. |
| How much funding has Bear Robotics raised? | Bear Robotics has raised $176M across 5 funding rounds. |
| What was Bear Robotics' last funding round? | Bear Robotics' last funding round was a $60M Series C in March 2024, led by LG Electronics. |
| Who are Bear Robotics' investors? | Bear Robotics' investors include SoftBank Group, Smilegate Investment, DSC Investment, Cleveland Avenue, IMM, Line, Lotte Accelerator, John Ha, IMM Private Equity, Founder Friendly Labs and 6 others. |
| Which companies are comparable to Bear Robotics? | Companies comparable to Bear Robotics include PuduTech, Picnic, Arcs Co, Locus Robotics, Adept AI and Zen Technologies. |
| How many companies has Bear Robotics acquired? | Bear Robotics has acquired 1 company, including KINISI. |
See companies similar to Bear Robotics
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




