Miko Expands Consumer Robotics Portfolio with Square Off Acquisition | Begins roll out of Middle East expansion at GITEX
It’s a match made in consumer robotics heaven: Miko, a global leader in AI robots for kids, has acquired a majority stake in Square Off, a startup known for AI-driven automated board games.
Miko has acquired 70 percent of Square Off, giving a complete exit to existing investors. With the acquisition, Miko will expand its product line beyond the AI robot companions that put it on the map. Miko’s eponymous kid’s robots use AI to deliver playful learning experiences for children ages 5 and older.
The move is a natural fit for two companies that share a passion for robotics and learning, says Sneh Vaswani, Miko co-founder, and CEO. Kids who actively use Miko 3, the company’s bestselling robot, increase their speaking proficiency, engagement with academic activities, and physical activity by more than 45% on average. Square Off’s interactive boards, which build cognitive skills via games such as chess, use robotics and AI to adapt to the player’s level of expertise.
Miko robots and Square Off smartboard games will soon communicate, with Miko robots taking on the role of instructors that teach children to play chess and other board games, Vaswani says.
The startup’s leadership will stay on board, continuing to work toward its vision of bringing robotics and AI-powered smart toys to 10 million homes globally. Miko will support the startup through that journey.
The acquisition is the latest in a string of bold strategic moves from Miko. This spring, the company announced a partnership with Paramount Consumer Products. In August, Miko 3 became the first kids’ robot to launch an official Disney app. Miko was the only Asian startup to participate in the 2021 Disney Accelerator.