Robotics startup Miko raises funding at over $200 million valuation: Report

Mumbai-based robotics startup Miko, under the Emotix brand, has reportedly raised Rs 20.5 crore in a new funding round led by a group of angel investors and fintech company Moneycrew Fintech.

So far, the startup has raised over $60 million in funding from investors, including Stride Ventures, Aroa Venture Partners, IvyCap Ventures, Chiratae Ventures, and IDG Capital, among others.

Valuation surges to $206 Million

The round boosted Miko's valuation to approximately $206 million.

The board at Miko has passed a special resolution to issue 679 Series C CCPS at an issue price of Rs 3,02,695 each to raise Rs 20.55 crore or $2.5 million, Entrackr reported citing the company's regulatory filing accessed from the Registrar of Companies (RoC).

Who are the investors?

The report said Moneycrew Fintech invested Rs 4.5 crore to this funding round, while a group of angel investors provided the remaining funds. 

Prominent individuals in this group include Amrapali B Doshi, Sanjiv Sarita, Amit Jain, Satyam Sinha, and Inderjit Kaur Arora.

What does Miko do?

Founded in 2015 by Sneh Vaswani, Prashant Iyengar, and Chintan Raikar, Miko is known for developing emotionally intelligent robots that leverage advanced technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT). 

The startup's flagship products, Miko, Miko 2, and Miko 3, have gained attention for their capabilities, including facial recognition, voice recognition, and the ability to express emotions.