LG Electronics has made its first major international investment in US-based Bossa Nova Robotics. The Korean company invested $3 million in the robot developer as part of their efforts to expand in robotics.
LG has stated its intentions to become more competitive in the robotics industry across the globe, and has made several large investments in South Korean robotics already, in companies including SG Robotics, Robotis, Acryl and Robostar. It’s investment in Bossa Nova Robotics was its first big step into the overseas market. The American company has an impressive track record, with over 50 Walmart supermarket chains relying on their supply.
The Korean tech leader has also showcased several robots, including a sophisticated guide navigation technology at Incheon International Aiport. The company now plans to focus on AI and self-driving technologies.