Bear Robotics, Inc. announced that it will raise $59,999,997 in a round of funding on March 11, 2024. The company will issue 7,928,139 series C preferred stock at an issue price of $7.56798 per share. The shares will be convertible in common shares at a fixed conversion price at their original issue price.

The shares are issued at a par value of $0.00001 per share. The shares are non-cumulative, non- redeemable and dividend rate of $0.4541 per annum. The transaction included participation from new investor LG Electronics Inc. The company has signed new stock purchase agreement.