Bear Robotics, a leading innovator of hospitality robotics and artificial intelligence solutions, today announced the completion of a $81M Series B funding round. New investor IMM led the round with participation from Cleveland Avenue, LLC and other existing investors. To date, Bear Robotics has raised $117M in total funding, including a $32M Series A funding round in January 2020 led by SoftBank.
With its headquarters in Silicon Valley and roots in the restaurant industry, Bear Robotics has engineered solutions such as the company’s flagship product named Servi, an all-in-one, fully autonomous mobile robotics answer to 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, Bear Robotics CEO and Founder. “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.”
This new Series B investment will accelerate Bear Robotics’ efforts in adding new products that complement the increasing need for automation in the hospitality space and expanding the company’s reach into new markets around the world. Bear Robotics will also leverage this investment 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. 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,” said Juan Higueros, Bear Robotics COO and co-Founder.
