As artificial intelligence continues to play a more significant role in education and entertainment for kids, two AI-focused Silicon Valley startups went the accelerator route to further develop their products.
But the accelerator robotics company Miko and artificial character development company Inworld AI didn't join one of this region's multiple accelerators or incubators. They headed to Southern California and took part in the Disney Accelerator, which launched in 2014 to bring new innovators from around the world to Walt Disney Studios in Burbank so they could collaborate with various divisions of the entertainment giant.
The accelerator encourages Disney employees and executives to “be inspired by trends that are just ahead of where we are, where we are hoping to go,” Bonnie Rosen, the general manager of the accelerator, told Bay Area Inno.
The accelerator hosts one cohort per year for about 3.5 months. This year, the accepted startups all happened to share a common theme — Web3, the third generation of infrastructure supporting the internet.
Disney's startup accelerator makes separate investment deals with each company it accepts. Rosen declined to disclose the range of these investments. Disney also continues working with the startups after they graduate from the accelerator.
On Nob. 10, the accelerator hosted its first post-pandemic demo day in person. Miko, which was part of the 2021 class, and 2022 participant Inworld both took part.
Miko
Miko, an Indian robotics company that has its sole U.S. office in Mountain View, built an AI-powered robot for kids. Co-founder and CEO Sneh Vaswani said the connections Miko made at the accelerator were “invaluable” in helping it launch its newest content platform, Miko 3.
“But more than that, they have been instrumental in helping us imagine a more interactive future for kids' engagement,” Vaswani told Bay Area Inno. “We’re actively exploring the intersections of tech, entertainment and learning, alongside the startups in our cohort and the experts at Disney.”
Miko’s line of robots has two goals — to emotionally support young children while their parents are working and to help them academically.
In August, Miko integrated Disney content into its Miko 3 platform, for kids aged 5 to 9.
“The Disney app is already the most popular and frequently used app on Miko 3’s platform,” Vaswani said. “Nearly 60% of our active user base uses the Disney app, and kids globally have logged thousands of hours with this interactive Disney content since the app launched.”
Recently, Miko has shown how it's expanding. In September, Miko acquired the AI-powered board-game startup Square Off, which gave Miko a 70% majority stake of the Mountain View-based company. And, last week, it launched an animated series. Produced by Moonbug Entertainment, the series follows two robot characters that are based on the Miko 3 robot. It’s available on YouTube.
Miko has raised more than $50 million in venture backing — about $36 million in a Series B last year — along with nearly $13 million in debt financing. Among its investors: Chiratae Ventures, Ivy Cap Ventures, IIFL (India Infoline Finance Limited) and YourNest Fund.
Inworld
Inworld AI is a Mountain View startup that has developed tools for building AI characters whose personalities, thoughts, memories and behaviors are designed to replicate the social nature of human interaction. Some of its applications include gaming, entertainment and the metaverse, a network of 3D virtual worlds that facilitate social connection.
The company has raised $70 million in venture backing, mostly recently a $50 million Series A in August. Among its well-known investors are Intel, Microsoft, LG and HTC, plus VC firms Section 32 and Kleiner Perkins.
At the Disney demo day last week, Inworld AI showed off a ‘Droid Maker’ prototype, created in collaboration with ILMxLAB, Lucasfilm's immersive storytelling studio.
Last Thursday, the company announced a character grants program, through which the company will award up to $1 million in grants of as much as $50,000 to innovators who want to broaden their creative repertoire with AI.
“The (Disney) accelerator has been an incredible opportunity to connect with the creativity, imagination and expertise of Disney,” Inworld founder and CEO llya Gelfenbeyn told Bay Area Inno.
