Robotics startup Miko takes a 70% stake in board game maker IA Square Off
Miko, which makes companion robots for kids, has acquired a 70% stake in Square Off, an AI-driven automated board game company, for an undisclosed amount.
“This move is a natural fit for two companies that share a passion for robotics and learning,” Miko co-founder and CEO Sneh Vaswani said in a press release. “AI is the future of gaming, and Square Off’s innovation has transformed the way players young and old interact with chess and other board games. We’re excited to help Square Off continue to accelerate its growth.
Miko robots will teach children to play chess and other board games. The two brands aim to generate more than $100 million in revenue together in 2023.
Square Off’s management will stay on board and continue working to bring AI-powered robotics and smart toys to 10 million homes worldwide, Miko said in a statement.
“We are thrilled to partner with Miko on this journey to revolutionize edutainment entertainment for kids,” said Bhavya Gohil, co-founder and CEO of Square Off.
Atur Mehta, co-founder and CTO of Square Off, said the move “will bring new levels of innovation, design and interaction to the space.”
In August, Miko 3 became the first robot for children to launch an official Disney app. Miko said she was the only Asian start-up to participate in the 2021 Disney Accelerator.
Miko raised $28 million in Series B funding in August earlier this year.