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© LG Group Business | July 03, 2018

LG Electronics adds investment in Bossa Nova Robotics

LG Electronics’ recent investment in US-based Bossa Nova Robotics marks the first overseas investment in a robotics partner by LG following a number of deals with Korean startups over the past year.
The funding of Bossa Nova follows LG’s investments in four other Korea-based robotics companies: Acryl, SG ROBOTICS, Robotis and Robostar. In total, LG has committed over USD 90 million to robotics startups in the first 12 months of its investment initiative.

“Robotics, as a key component of our ThinQ AI strategy, is a critical future growth opportunity for LG,” said Kim Sungwook, vice president of the global open innovation division at LG Electronics. “LG is committed to expanding its robotics capabilities through investments in innovative partners as well as intense R and D efforts from within.”

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July 18 2018 5:55 pm V10.0.0-1