Bear Robotics Raises $81M Series B
Yes, the money's good, but the real story is the market opportunity.
The News
Restaurant server startup Bear Robotics announced today that it has raised an $81 million Series B round of funding. New investor IMM led the round with Cleveland Avenue, LLC and other existing investors participating. This brings the total amount raised by Bear to $117 million.
Bear has shipped 5,000 of its Servi server robots, which are now in use across four countries and 33 states in the U.S..
Server robots will be the entry point for most restaurants into robotics because of the minimal amount of installation required.
The Story
Sure, $81 million is a lot of money, but the real story here is the opportunity ahead for Bear Robotics. And yes, Bear has deals in place with big chains like Chili’s, Compass Group, Denny’s, Marriott, and Pepsi.
But do a Google news search of “restaurant server robots” (go ahead, I’ll wait). The search results revel the much the bigger news story here.
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