Bee Focus

Majority stake acquired in AI chess startup by Miko Robotics, Square Off

Miko Robotics recently introduced a smart toy robot. These toy robots have been specially designed for children between 3 to 12 years where it helps share knowledge with the kids by making learning fun, faster and easier. Robots have been in high demand, especially in the education sector. Miko Robotics and Square Off launched their products in the year 2017 and saw a high demand during the pandemic has come from families stuck at home. Over a three-month period, children who have been actively using Miko have experienced a 55% increase in speaking proficiency, a 46% increase in physical activity and a 55% increase have an engagement in academic activities. Miko Robotics has recently raised $40 million from Chiratae, YourNest, IvyCap ventures, IIFL Private Equity and Disney. Currently operating with 100,000 plus users worldwide.

Square Off have been building next-gen toys and games with robotics and AI, giving the games a more human touch by connecting people across the globe. Mumbai-based startup innovates board games which is fascinating to watch and play for its users. Their chess board was awarded ‘The coolest game’ in the year 2017 by Digital trends and ‘Innovation Award’ Honoree 2019 at CES in Vegas. The chess set is automated, where the pieces on the board game move on their own with the help of AI. Grabbing the attention of the crowded Square Off appealed to Miko Robotics at CES 2019, a battlefield event where the startup showcased its robotic chess board where the pieces were seen moving on their own with the help of AI. Taking a step further in the startup ecosystem, Miko robotics were impressed and went on to announce that it has acquired a majority stake of 70% of the company.

In the future tie-up, Miko Robotics is not only planning to invest $12 million in the board game (chess) but will also tie up with Square Off with its existing product lining hoping to achieve $100 million in revenue by 2023. The specialized robot aims to act as a companion and indulge the kids by creating a personalized experience for the child. Miko can interact with kids on several topics through games, HRI (human-robot interactions), gestures and much more.

Bhavya Gohil, co-founder and CEO of Square Offs said “We are thrilled to join forces with Miko on this journey to revolutionize edutainment for kids”. Sneh Vaswani co-founder of Miko and CEO “the acquisition is a natural fit for two companies who share a passion for robotics and learning”.  Further adding that Square off is focusing on building interactive board games where the games will communicate with the Miko Robots acting as teachers by instructing the children to play chess including other board games. Miko Robotics and Square Off will come together aiming to bring robotics and AI-powered toys to each home. “This move will bring new levels of innovation, design and interaction to the startup ecosystem,” said Atul Mehta, co-founder and chief technology officer. Miko is ensuring that all data will be protected with utmost privacy while still making it easy for kids.

 

 

 

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