March 15, 2022
Bear Robotics, which develops hospitality robots and artificial intelligence solutions, has announced raising $81 million in a Series B funding round. The company said it will use the funding to add new products and expand into new markets around the world.
With its roots in the restaurant industry, Bear Robotics has engineered solutions such as its flagship product, Servi, an all-in-one, fully autonomous mobile robot that can perform daily repetitive work encountered by hospitality employees.
“Having started my own restaurant years ago, I learned firsthand just how hard things could get,” said John Ha, CEO and co-founder of Bear Robotics. “I thought there must be a way to automate some of these repetitive tasks without losing what makes a restaurant great. That’s why we created Servi. It’s a solution meant to enhance the experience of customers, employees and operators. While others are trying to fully automate work, we’re trying to elevate the future of work for stakeholders in this industry that keep it going each day.”
A new investor, IMM, led the funding round, with participation from Cleveland Avenue, LLC, and other existing investors. To date, Bear Robotics has raised $117 million in total funding, including a $32 million Series A funding round in January 2020, led by SoftBank.
The company said it will also use the new funding to hire additional top talent. “Achieving this next round of funding is a key milestone for us to be able to accelerate our product roadmap and expand our go-to-market initiatives with our partners,” said Juan Higueros, COO and co-founder of Bear Robotics. “We’ve also been extremely fortunate to have the opportunity to help small and medium-sized businesses during the recent labor shortage, and look forward to our continued impact there.”
The company utilizes AI and self-driving technology to deploy robots to take care of everything from drink serving to food running and table busing, allowing hosts and waitstaff to focus on delivering outstanding service. The company’s robots have been deployed across a range of restaurants, corporate campuses, hotels, ghost kitchens, senior care facilities, and casinos across North America and Asia.
For more details on the company, visit the Bear Robotics website here.