PASADENA, Calif., July 6, 2017 /PRNewswire/ -- Miso Robotics,
an innovative leader in robotics and artificial intelligence
solutions, announced today it has secured $3.1 million in funding from Acacia Research
Corporation (NASDAQ:ACTG), Match Robotics VC, and undisclosed
strategic investors. Miso will use the funding to deliver 'Flippy,'
its first commercial product, an adaptable AI-driven robotic
kitchen assistant that will work alongside kitchen staff to improve
operational efficiency for the restaurant industry. The first
installation of Flippy will be in CaliBurger's Los Angeles area location. The investment in
Miso represents Acacia's second investment in companies seeking to
transform the marketplace through Artificial Intelligence.
Miso also announced it has entered into an IP services agreement
with Acacia Research to drive AI-based solutions for the entire
restaurant industry. "Acacia's expertise in intellectual property
and its leadership in the emerging AI space will help Miso achieve
our vision of bringing innovative technology to the
often-overlooked restaurant industry," said David Zito, co-founder and CEO of Miso
Robotics.
Zito continued, "Miso is transforming the restaurant industry
and we will continue to grow our team of roboticists and AI
experts, deepening our collaborative ties with the Caltech
community and deliver our adaptable AI-solutions for our first
restaurant customers. We are excited about the impact Miso's
AI-based solutions will have for the restaurant industry."
Acacia Research President Rob
Stewart commented, "We're impressed with Miso' s talented
team of industry veterans and their category-leading AI technology
that makes them well positioned to take advantage of the
considerable market opportunity in the restaurant industry."
Miso Robotics received worldwide attention following the debut
of its AI-driven robotic kitchen assistant that will work alongside
kitchen staff to grill burgers, starting with CaliBurger
restaurants. While artificial intelligence is being successfully
tested and employed to drive cars, manage the home and message with
customers, Miso Robotics is bringing robotics and AI into the
kitchen in a meaningful way.
Miso Robotics plans to roll out its AI-driven robotic kitchen
assistant in early 2018 and expand to more than 50 CaliBurger
restaurants worldwide by the end of 2019.
About Miso Robotics
Miso Robotics (misorobotics.com)
is revolutionizing the restaurant and prepared food industries with
innovative robotics and artificial intelligence AI solutions. Miso
was founded with a mission to leverage AI technology to help chefs
cook food perfectly and consistently and enable restaurants to
increase labor productivity, reduce costs and drive profitability
while improving the overall dining experience. Miso employs a
respected team of roboticists, engineers and industrial designers
from Caltech, Cornell, MIT, Carnegie Mellon,
Art Center and UNC Chapel Hill.
About Acacia Research Corporation
Founded in 1993,
Acacia Research Corporation (NASDAQ: ACTG) is the industry leader
in patent licensing. An intermediary in the patent marketplace,
Acacia partners with inventors and patent owners to unlock the
financial value in their patented inventions. Acacia bridges the
gap between invention and application, facilitating efficiency and
delivering monetary rewards to the patent owner. For more
information, visit: acaciaresearch.com
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Litigation Reform Act of 1995
This news release may
contain forward-looking statements within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Such statements are based upon our current expectations,
and speak only as of the date hereof. Our actual results may differ
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rapid technological change in our markets, changes in demand for
our future products, legislative, regulatory and competitive
developments and general economic conditions. Our Annual Report on
Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q,
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forward-looking statements for any reason.
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SOURCE Miso Robotics