According to reporting from Seoul Economic Daily and Korea Economic Daily, Bear Robotics has selected Bank of America to arrange the financing and is approaching institutional investors in South Korea and overseas. The company is reportedly discussing a valuation of around KRW 2 trillion, approximately $1.5 billion, with some expectations that the final valuation could reach the upper KRW 2 trillion range.
The financing and valuation remain reported terms rather than a completed transaction. Bear Robotics has not publicly announced the round or confirmed a Nasdaq listing date.
The company was previously valued at around KRW 700 billion when LG Electronics invested $60 million in its Series C in March 2024. LG later increased its ownership, taking management control of Bear as part of a broader push into commercial, industrial and home robotics.
Bear initially built its business around autonomous service robots such as Servi, used in restaurants and hospitality environments. It has since expanded into autonomous mobile robots for logistics and manufacturing.
That industrial push accelerated this year with the acquisition of UK-based Kinisi Robotics, bringing robotic arm and manipulation technology into Bear’s platform as it moves into more complex warehouse and manufacturing applications.
The reported pre-IPO capital would be used primarily for robotics R&D and business expansion ahead of a potential public listing.
