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LG Signs Deal For developing Self-driving Modules For Mobile Robots

So far, LG Electronics has introduced eight robot products under the CLOi brand that carry out various tasks including guiding, cleaning and even mowing the lawn

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LG logo, wikimedia

LG Electronics Inc. on Monday said it has inked an agreement with service robot developer Robotis to collaborate in developing self-driving modules for mobile robots.

Under the agreement, LG Electronics and Robotis will each focus on developing software and hardware of mobile robots equipped with intelligent navigation technologies.

The South Korean tech major acquired a 10.12 per cent stake in Robotis in December 2017.

Established in 1999, Robotis provides actuators for robots globally, Yonhap news agency reported.

Robots
Robots. Pixabay

The latest agreement comes in line with LG Electronics’ latest efforts to expand its robot business as a new growth engine.

LG Electronics said the company plans to expand the portfolio of robot products in close cooperation with Robotis.

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So far, LG Electronics has introduced eight robot products under the CLOi brand that carry out various tasks including guiding, cleaning and even mowing the lawn. (IANS)

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LG Group Steps up For Investment in Global Start-ups

Most recently, the investment arm invested in $2 million in AmazeVR, a virtual reality platform start-up in Silicon Valley

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LG logo, wikimedia

South Korean conglomerate LG Group has said it has been looking for investment opportunities in various fields to keep pace with fast-changing technology trends and find new growth drivers.

LG Technology Ventures, LG’s venture capital investment arm, has invested over $19 million in start-ups in emerging technology fields, including IT, automotive, manufacturing, bio, energy and advanced materials.

The amount is about 4.5 per cent of the $425 million fund assets raised by five LG affiliates in electronics, display, chemical, telecom and IT service provision for its establishment in 2018, the company said.

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Among the companies are mobility software provider Ridecell and bio-tech company Lygos, as well as cooking app SideChef and advanced material company Optodot, Yonhap news agency reported on Thursday.

Most recently, the investment arm invested in $2 million in AmazeVR, a virtual reality platform start-up in Silicon Valley.

“LG Technology Ventures is monitoring the technology development of global start-ups, while searching for investment opportunities in various fields, including artificial intelligence, virtual and augmented reality, bio, materials and displays,” LG said in a release. (IANS)