Patent licensing company Acacia Research Corporation said it made an investment in artificial intelligence firm Miso Robotics as part of Miso’s closing of a $3.1 million round of funding.
Miso will use the funding to deliver “Flippy” — a robotic kitchen assistant that will work alongside kitchen staff “to advance operational efficiency for the restaurant industry.”
Acacia said its involvement with Miso is its second investment in companies seeking to transform the marketplace through artificial intelligence (AI).
Acacia also announced it entered into an IP services agreement with Miso to help Miso drive AI-based solutions for the entire restaurant industry.
Acacia Research president Rob Stewart said: “Miso has a talented team of industry veterans and we are pleased to partner with them to help them achieve their IP objectives.
“We believe their category-leading AI technology makes them well positioned to take advantage of the considerable market opportunity in the restaurant industry.”
Miso Robotics plans to roll out Flippy in early 2018 to CaliBurger, its first customer.
Miso Robotics CEO David Zito said: “We intend to use the capital infusion to continue to grow our team of roboticists and AI experts, deepen our collaborative ties with the Caltech community and deliver our adaptable AI-solutions for our first restaurant customers.”
Watch Miso Robotics’ kitchen assistant Flippy in action below: