# Bear Robotics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bear-robotics

- Industry: Consumer Products
- Headquarters: Redwood City, US
- Website: www.bearrobotics.ai
- Total disclosed funding: $146M
- Latest round: Series B (Mar 15, 2022)
- Investors on record: 13

## About

Bear Robotics, Inc., based in the US, specializes in developing robotic solutions that enhance operational efficiency in sectors like hospitality and warehousing, focusing on intelligent service automation through their flagship robot, Servi.Founded in 2017 in Redwood City, US, Bear Robotics, Inc. designs advanced robotic systems for service industries. The company has not undergone any significant pivots in strategy and does not have subsidiaries. The founders include Brennand Pierce, Fangwei Li, John Ha, and Juan Higueros, with John Ha serving as CEO. The company has successfully completed 7 deals, with its latest funding round being a Series C, led by LG Electronics, which raised USD 60.00 mn, bringing the total amount raised to USD 60.00 mn.Bear Robotics specializes in advanced robotic solutions aimed primarily at enhancing service efficiency across various industries, including restaurants, senior living facilities, hotels, and warehouses. Their flagship product, Servi, is a multifunctional robot designed for intelligent delivery and service automation, capable of navigating diverse environments with ease, including tight spaces and all-floor surfaces. The Servi robots operate autonomously, utilizing sophisticated navigation technology to transport food and other items, streamlining workflows and alleviating physical burdens on staff. They are effective in high-traffic areas and can handle loads of up to 66 pounds for durations of up to 12 hours on a single charge. Bear Robotics actively serves clients across North America, Asia, and Europe, with notable customers including major restaurant chains and hospitality venues.Bear Robotics generates revenue primarily through the sale and deployment of their robotics solutions, specifically the Servi and Servi Plus models. The revenue model includes direct sales, subscription services, and partnerships with businesses in target markets. For example, clients may purchase the robots outright or opt for a subscription model that provides ongoing support and software updates. The commercial structure often involves B2B transactions, where the company collaborates with large retailers and service providers to integrate robotic solutions into their operations. Pricing structures for the robots and associated services are tailored to the needs of each client, ensuring a comprehensive approach to service automation that aligns with the specific demands of the clients' business environments.In January 2025, Bear Robotics, Inc. raised USD 60.00 mn in venture funding from returning investor LG Electronics. This funding is expected to support the design and launch of new enhancements to the Servi robot, as well as facilitate expansion into additional markets in Asia and Europe by the end of 2025.

## Funding rounds

- Series B, Mar 15, 2022, $81M — IMM Private Equity, KT Corporation, Smilegate Investment, DSC Investment, Cleveland Avenue
- Series A, Jan 23, 2020, $32M — Smilegate Investment, DSC Investment, Lotte Accelerator, Softbank
- Series A, Aug 30, 2019, $32M — SoftBank Group, Lotte Shopping, Smilegate Investment, DSC Investment, LINE Ventures, Vela Partners
- Seed, Jun 1, 2017, $0.8M — Line Corporation, LINE Ventures, FuturePlay

## Investors

- Line Corporation — Seed
- LINE Ventures (https://capitalatlas.ai/funds/line-ventures) — Seed, Series A
- FuturePlay (https://capitalatlas.ai/funds/futureplay) — Seed
- SoftBank Group — Series A
- Lotte Shopping — Series A
- Smilegate Investment (https://capitalatlas.ai/funds/smilegate-investment) — Series A, Series B
- DSC Investment (https://capitalatlas.ai/funds/dsc-investment) — Series A, Series B
- Vela Partners (https://capitalatlas.ai/funds/vela-partners) — Series A
- Lotte Accelerator — Series A
- Softbank — Series A
- IMM Private Equity (https://capitalatlas.ai/funds/imm-private-equity) — Series B
- KT Corporation — Series B
- Cleveland Avenue (https://capitalatlas.ai/funds/cleveland-avenue) — Series B