Mumbai-based Robotic Startup Miko Raises Rs 23 Crore From Stride Ventures And Others

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Mumbai-based Robotic Startup Miko Raises Rs 23 Crore From Stride Ventures And Others
  • Miko is an advanced consumer robotics innovation lab passionate about bringing the best of technology to young learners everywhere.
  • In September 2019, Miko raised Rs 16 crore from WNS Holdings CEO Keshav Murugesh.
  • With this deal, The startup has raised $14.9 million in funding over 4 rounds.

Mumbai-based robotics startup Miko (Emotix) raises Rs 23 crore ($3.1 million) in its Series B funding round led by New Delhi-based venture capital firm Stride Ventures.

Other existing investors including Chiratae Ventures, YourNext Ventures, and a group of angel investors, led by former Nasscom chairman Keshav Murugesh, also participated in the funding round.

In September 2019, Miko raised Rs 16 crore ($2.1 million) in its Series A funding round from WNS Holdings Ltd. CEO and Nasscom’s chairman Keshav Murugesh, Inderjit Kaur Arora, Suresh Subramani, and few others.

With this deal, The startup has raised around $14.9 million (Rs 109 crore) in funding over 4 rounds.

The startup will use this fresh capital to improve its product development and form global alliances.

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“Our growth journey till Miko 2 was about creating a product that meets the needs of today’s parents who seek a positive and trusted gateway of technology. Miko 2 has now evolved into a powerful content subscription platform with global content alliances. We are on track to surpass the 100,000-user mark in the coming quarters with Miko,” said Sneh R Vaswani, co-founder & CEO, Miko.

“Our mission is to solve grave consumer problems with the help of robotics, artificial intelligence (AI), and the Internet of Things (IoT),” she added.

“The investment in Miko represents Stride’s commitment to enabling frontier technologies that have the potential to disrupt the status quo. We are proud to be associated with a company that is revolutionizing pedagogy through interactive IoT (internet of things).” said, Ishpreet Gandhi, founder & managing partner, Stride Ventures.

According to the reports, Miko has its presence in more than 90 countries. Additionally, The startup witnessed a 20% month-on-month growth in engagement during the COVID-19 pandemic.

In April 2018, The startup first raised $2 million in its venture round from Chiratae Ventures, IDG Capital, and YourNext Venture Capital.

Following, In August 2019, The startup raised $7.5 million in its Series A funding round from YourNext Venture Capital, Chiratae Ventures, Technology Venture Partners, IDG Capital, and angel investor Brun Raschle.

About – Miko is a Mumbai-based robotic startup founded in 2015 by three IITians Sneh R Vaswani, Prashant Iyengar, and Chintan Raikar. The startup focused on building innovative technology products such as Robots to educate and entertain small kids.

Earlier this year, The startup launched Miko 2, a robot, that can see, hear, express, talk, recognize faces, remember names, initiate a conversation, and learn from its own environment to intuitively develop a strong and engaging bond with a child.

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