​Korean food-tech firm puts $2 million into Bear Robotics

South Korean food-tech firm Woowa Brothers, which runs the Baedal Minjok delivery app, has invested $2 million into US robotics startup Bear Robotics.
Written by Cho Mu-Hyun, Contributing Writer

Woowa Brothers has invested $2 million in US-based robotics startup Bear Robotics, the company announced.

The South Korean food-tech firm made the investment in the form of convertible bonds in Bear Robotics' seed round.

Woowa, which runs South Korea's largest food delivery app Baedal Minjok, has previously stated it wanted to expand in AI and robotics. Last month it announced that it is developing a delivery robot that will be trialed in food malls as early as May.

Bear Robotics, which was founded by ex-Google developer John Ha last year, works to improve restaurant processes through automation. The startup's robot waitress, dubbed "Penny", has sensors that allows it to deliver food to restaurant tables.

Woowa said the investment is a mid- to long-term strategy and hopes for opportunities to cooperate with the startup.

It also hopes the investment will give it a footprint in the fast-rising US robotics market.

Compatriot search giant Naver is also investing heavily in robotics and unveiled its augmented strength cart last year.


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