Acacia Research (NASDAQ: $ACTG) Makes Additional Strategic Investment in Miso Robotics
NEWPORT BEACH, Calif. - February 15, 2018 (Investorideas.com Newswire) Acacia Research Corporation (NASDAQ: ACTG) announced today that it has invested in the Series B financing round for Miso Robotics, the leading robotics and artificial intelligence solutions company for restaurants and food service providers. Miso Robotics will use the new capital to expand its suite of collaborative, adaptable robotic kitchen assistants and to broaden applications for Miso AI, the company's machine learning cloud platform.
Acacia Research President, Rob Stewart commented, "The company's unique position as a pioneer in autonomous solutions for the commercial kitchen will not only transform the modern restaurant but will also change the way we think about how food is produced and served. Acacia is impressed with the Miso team's execution and the traction the Miso team has gained with potential customers in a short period of time."
Miso Robotics' robotic kitchen assistants and the Miso AI platform are designed to boost productivity and improve food quality. This also enables restaurants and food providers to accommodate increasing customer expectations for fresher ingredients prepared quickly and consistently while keeping the cost of food production down.
"We are thrilled by the growing confidence in Miso Robotics and remain committed to fulfilling our goal of modernizing the $3 trillion global prepared foods industry," said David Zito, co-founder and CEO of Miso Robotics. "Acacia's patent expertise and our strategic investors will be invaluable as we continue to commercialize our cutting edge technology."
The company will soon debut "Flippy" at CaliBurger's Pasadena location and will roll out the autonomous robotic kitchen assistant to more than 50 CaliBurger restaurants worldwide by the end of 2019.
ABOUT ACACIA RESEARCH CORPORATION
Founded in 1993, Acacia Research Corporation (NASDAQ: ACTG) is an industry leader in patent licensing and 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. Acacia also leverages its patent expertise and background to partner with emerging disruptive technologies such as Artificial Intelligence, Robotics and Blockchain.
For more information, visit: acaciaresearch.com.
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, MIT, Carnegie Mellon, Art Center and UNC Chapel Hill.
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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 materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, our ability to successfully develop products, 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, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason
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