Japanese fashion magnate buys 'affectionate' robot venture

Japanese fashion magnate Yusaku Maezawa is buying robotics startup Groove X, which makes an "affectionate" companion robot, saying on Tuesday he was drawn by its ability to "make people feel happy". A fund owned by Maezawa has taken a majority stake in the startup, founded by an alumni of SoftBank Group Corp.'s robotics business, and will move to full ownership in April, Groove X said, without providing further detail. Lovot, an amalgam of "love" and "robot", has wheels and resembles a penguin with cartoonish human eyes. It has interchangeable outfits and communicates in squeaks. Lovot "can't clean or do work but I see big potential in a presence that can make people feel happy, particularly at this time," Maezawa said in the statement.