Indian robotics startup Miko raises $10.5 million from US-based iHeartMedia

Mumbai-headquartered robotics startup Miko has raised $10.5 million (about Rs 93 crore) in funding from iHeartMedia, the American audio-media major.

The funding coincides with a partnership that will see iHeartMedia’s vast catalogue of audio content integrated into Miko’s family of devices. The collaboration is aimed at deepening engagement for children and families who use Miko’s AI companions globally.

Founded in 2015 by Sneh Vaswani, Prashant Iyengar, and Chintan Raikar, Miko develops emotionally intelligent robots that blend AI, robotics, and IoT to educate, entertain, and engage children. Its current product line includes Miko Mini and Miko 3, which operate on a hybrid model combining direct sales and subscriptions.

The startup raised $15.8 million in Series D funding last October from IvyCap Ventures Advisors and other investors.

Miko claims to serve users in more than 140 countries, including the US, Europe, and the Middle East, and recently went live with retail giant Costco in North America. The startup's AI platform relies on generative content, advanced sensors, and long-term memory to make interactions adaptive, safe, and emotionally engaging.

“Our partnership with iHeart marks a pivotal moment in Miko’s mission to make AI companions part of everyday family life,” said Sneh Vaswani, co-founder and CEO of Miko.

“iHeart reaches 9 out of 10 Americans every month, and we couldn’t be more thrilled to help make Miko a household name across North America,” said David Ellis, Senior Vice President of Ventures at iHeartMedia. “Miko is an AI-native robotics with proprietary technology and IP that has the potential to reshape sectors from education and entertainment to mobility and connected living”