Mint and Rice Robotics form JV to launch B.Duck AI companion robot
Mint Incorporation Limited (NASDAQ: MIMI) has established a new joint venture with Rice Robotics Holdings, called Rice Robotics AGI Holding Limited, and signed a non-binding memorandum of understanding with B.Duck Semk Holdings International (HKEX: 2250) to co-develop a consumer AI companion robot branded as B.Duck NAVI. The deal marks Mint's deliberate pivot from commercial robotics deployments into the family and parent-child consumer segment.
Mint is contributing approximately HK$15 million to the joint venture. Under the proposed arrangement, B.Duck Semk would grant Rice Robotics AGI a licence to use the B.Duck character, a Hong Kong-originated IP with more than two decades of brand history in Asia, across a range of AI companion robot products. The MOU is non-binding and a definitive agreement has not yet been signed.
The product and the deal
B.Duck NAVI, described as the JV's inaugural flagship model, is designed around autonomous walking navigation, voice interaction, emotional response capabilities, and general daily-life assistance. The name is a reference to its navigation functionality. It is positioned for home use rather than the enterprise settings targeted by Mint's earlier FLOKI Minibot M1 offering.
Damian Chan, chairman and chief executive of Mint, said the company had "recognised the immense potential of AI companion robots" following the FLOKI prototype and that the B.Duck partnership was intended to "lower the barrier to consumer adoption of AI robots." Victor Lee, founder of Rice Robotics and chief executive of Rice Robotics AGI, described the product as "the first expression" of the JV's mission to build consumer-ready AI robots. The global debut was scheduled for Licensing Expo Las Vegas on 19-21 May 2026 at Mandalay Bay.
Market context and competitive landscape
The consumer companion-robot category is attracting increasing commercial attention as AI inference capabilities become cheaper to embed at the edge. Established players such as Sony (Aibo), Embodied (Moxie) and a growing cohort of Chinese hardware startups are competing for living-room presence, while larger robotics platforms from Boston Dynamics and Figure target industrial and logistics use cases. The licensing-led go-to-market strategy adopted by Rice Robotics AGI, anchoring the product in an existing consumer IP rather than building brand from scratch, is a relatively novel approach in the sector. It reduces customer-acquisition cost but ties commercial success to the strength of the licensed brand outside its core Asian market.
The Asia-Pacific companion-robot segment is expanding, driven by demographic pressures including ageing populations in Japan, South Korea and parts of China, alongside rising disposable income among younger family consumers. Mint's stated intent to target the parent-child market positions B.Duck NAVI in a segment where character recognition matters considerably; B.Duck's fan base is strong in Hong Kong and mainland China but less established in Western markets where Licensing Expo exhibitors typically seek distribution.
Regulatory and commercial caveats
Several material uncertainties attach to the announcement. The MOU is explicitly non-binding and no definitive agreement had been executed at the time of publication, meaning the IP licence could yet fail to complete on the terms described. No production volumes, retail price point, launch territory timeline, or hardware specifications were disclosed. The HK$15 million contribution from Mint represents a modest initial capitalisation for a consumer hardware venture, where tooling, manufacturing ramp and retail distribution typically require significantly larger outlays.
Mint remains primarily an interior design and fit-out business by revenue, and the robotics division is at an early stage. Investors considering the MIMI listing should note that the company's forward-looking statements carry the usual SEC-mandated caution that actual results may differ materially from current expectations.