The South Korean tech giant said it is aiming for the investment to bolster its competitiveness in the robot industry which has been cited as one of key growth engines for LG recently.
"The US company was established in 2005 and provides inventory-management solutions for retailers," Yonhap news agency reported on Friday.
Bossa Nova Robotics' robots have been supplied to some 50 Walmart supermarket chain operations.
The South Korean company has been making various moves in expand its presence in the robotics industry. It showcased guide-navigation robots in places like Incheon International Airport.
LG earlier made investments in South Korean robot-related startups, including SG Robotics, Robotis, Acryl, and Robostar.
The company said it will speed up development of new robot solutions utilizing artificial intelligence and self-driving technologies.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
