Miko picks up majority stake in Square Off | The Financial Express

Miko picks up majority stake in Square Off

Miko makes companion robots for kids, while Square Off, using robotics, builds interactive board games such as chess uses AI to adapt to the player’s expertise level

Miko picks up majority stake in Square Off
The companies said Miko’s robots will act as instructors to teach children to play chess and other board games.

Miko, a robot manufacturing company, has acquired a 70% stake in Square Off, a company that leverages artificial intelligence (AI) to automate board games, for an undisclosed amount, the company said in a statement on Wednesday. Together, the two brands aim to generate over $100 million in revenue in 2023.

“The move is a natural fit for two companies that share a passion for robotics and learning,” said Sneh Vaswani, co-founder and chief executive officer (CEO) of Miko. “AI is the future of play and Square Off’s innovation has transformed how players young and old interact with chess and other board games. We’re excited to help Square Off continue accelerating its growth.”

Miko makes companion robots for kids, while Square Off, using robotics, builds interactive board games such as chess uses AI to adapt to the player’s expertise level. “With the acquisition, Miko will expand its product line beyond the AI robot companions that initially put it on the map,” the startups statement said.

The companies said Miko’s robots will act as instructors to teach children to play chess and other board games.

Atur Mehta, Square Off co-founder and CTO, said the move will “bring new levels of innovation, design and interaction to the space”.

Miko has raised over $59 million so far from IvyCap Ventures, Disney Accelerator, Chiratae Ventures and others and is valued at about $311 million, according to Tracxn.

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