Hong Kong-based, Nasdaq-listed Mint Incorporation Limited has formed a new joint venture with Rice Robotics Holdings to push consumer AI companion robots into mainstream Asian markets, the companies said on May 28. The new entity, Rice Robotics AGI Holding Limited, will receive HK$15 million in funding plus research and personnel support from Mint's wholly owned subsidiary Aspiration X, while Rice Robotics contributes its technology stack, intellectual property, customer relationships, and marketing know-how.
From B2B Delivery to Consumer Companions
Rice Robotics is best known for autonomous delivery robots deployed across high-profile commercial sites in Japan and other Asian markets. The new joint venture extends that foundation into a consumer-facing product category. Rice Robotics AGI's first batch of consumer-ready AI companion robots is scheduled to launch in Q3 2026, initially in Asia, building on the team's earlier co-development of the FLOKI Minibot M1 for commercial customers. The deal aligns with a broader push by humanoid and service-robot players toward retail and home-facing form factors, similar to recent enterprise-to-frontline deployments and vertical-focused robotics partnerships.
Capital Structure and Governance
Under the joint venture agreement, signed on May 22, Aspiration X will contribute the HK$15 million in cash and operational support. Rice Robotics provides its existing autonomous navigation platform, brand, IP, and client relationships. The JV agreement also covers standard governance provisions, including shareholder consent for major decisions, transfer restrictions, and pre-emptive rights on future share issuances, the companies disclosed in a regulatory filing.
Executive Commentary
"The signing of this joint venture agreement through Aspiration X represents a deliberate and decisive acceleration of our companion robot strategy," said Damian Chan, chairman and CEO of Mint. "With the successful delivery of the FLOKI Minibot M1, we saw firsthand the enormous potential in AI companionship. Now, through Rice Robotics AGI, we are committing dedicated investment and strategic focus to expand our reach into the consumer market at scale."
Victor Lee, founder of Rice Robotics, added: "Rice Robotics AGI was created to accelerate the development of, and build, consumer-ready AI robots that people genuinely want in their daily lives. Combining autonomous navigation with interactive AI capabilities, we are excited to take a meaningful step toward making companion robots accessible to more families through Rice Robotics AGI."
Why Consumer Robots, Why Now
The launch lands as humanoid and companion robot startups race to win the consumer category, with Chinese manufacturers and US-based humanoid firms targeting home and retail use cases. Mint, listed on Nasdaq under the ticker MIMI, is using the JV vehicle to ringfence robotics-specific risk while maintaining its existing B2B robotics and interior design businesses. The model echoes a broader pattern of corporate-led joint ventures in physical AI, where established companies pair with focused robotics specialists to accelerate product timelines.
What to Watch in Q3
The companies have not disclosed pricing, target geographies beyond "Asian markets first," or the specific form factor of the launch product. A separate announcement the same day flagged that Rice Robotics AGI will showcase its first companion robot integrating the B.Duck character IP at Licensing Expo Las Vegas, suggesting an entertainment-licensing distribution path for the consumer launch. Execution risk centers on production capacity, software experience, and Mint's ability to translate B2B autonomous-delivery expertise into a category dominated by emotional design and consistent at-home performance.
Reporting based on coverage from GlobeNewswire and Mint Incorporation regulatory disclosures.