Bear Robotics bets on elevator interoperability with investment in M2MTech

Bear Robotics, a Silicon Valley-based provider of indoor service robots, is continuing its advancements in the robotics and artificial intelligence space. The tech providers just announced an investment to fund its Korea-based partner, M2MTech, which specialises in IoT convergence for smart remote and predictive systems with elevators.

This investment comes as Bear Robotics now extends their world-renowned Servi robot line with a fully integrated elevator delivery robot, Servi Lift, which is capable of completing last-mile deliveries inside of multi-story buildings such as hotels, senior living communities, ghost kitchens, hospitals, corporate campuses, and other high-rise commercial and residential real estate properties. “We believe this investment will truly maximise facility efficiencies and minimise user inconvenience,” comments John Ha, co-founder and chief executive officer of Bear Robotics. “The ELSA convergence platform developed by M2MTech provides strong security, interoperability, and connectivity advantages that will set the stage for us to scale our last-mile mobility solutions.”

In engineering Servi Lift, Bear Robotics sought interoperability as its absolute competitive advantage to be applied with major players in the smart elevator market such as OTIS, TKE, Mitsubishi, KONE, Hyundai and Schindler. With the expansion of urbanisation, Bear Robotics is bullish on the “smart city” shift to robot-friendly buildings, enhanced access security, and the penetration of smart elevators in smart buildings with strong linkages between systems.

“With the global IoT elevator market forecasted to grow to $64 billion by 2030, it was imperative for us to invest into our close partnership with M2MTech that our engineering teams have built over the last couple of years, and to realise the synergies we believe will advance our last-mile aspirations,” comments Juan Higueros, co-founder and chief operating officer of Bear Robotics. “We are confident that this collaborative approach will generate more efficient operations for many of our existing customers and open a broad array of new opportunities that will place Bear Robotics in a position to be multi-story robot delivery solutions provider.”

100 trials of Servi Lift are reserved for 2023. Broader rollouts are lined up across the world in 2024.

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• Source: https://www.iot-now.com/2023/04/21/129876-bear-robotics-bets-on-elevator-interoperability-with-investment-in-m2mtech/