Miko, a Robotics startup founded by IIT Bombay graduates, announced that it has raised Rs 23 crore in pre-series B funding led by Stride Ventures, according to YourStory report.
Existing investors YourNest Venture Capital; Chiratae Ventures; Keshav Murugesh, Former Chairman of NASSCOM, and a group of angels participated in the funding round.
Founded in 2015 by Chintan Raikar, Prashant Iyengar and Sneh Vaswani, Miko is an advanced consumer robotics innovation lab passionate about bringing the best of technology to young learners everywhere. The startup has built India’s first companion robot.
According to a press statement shared by Stride Ventures, Sneh R Vaswani, Co-founder and CEO, Miko, said, “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 2 hosting hundreds of applications and use cases. It’s very encouraging for the entire Miko team to build a global consumer technology brand out of India.”
After the company launched its first generation robot, the team launched Miko 2, a robot that can see, hear, sense, express, talk, recognise faces, remember names, identify moods, initiate a conversation, and learn from its own environment to intuitively develop a bond with a child. The press statement added Miko 2 addresses a complex need-gap of education, technology, entertainment, and hence an enabler in effective parenting, like none other.
Ishpreet Gandhi, Founder and Managing Partner, Stride Ventures, added: ”At Stride, it is our mission to make the credit ecosystem more accessible to startups. 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.”
Miko claims that it has now expanded its user base across 90 countries, including the US. It now has over 70 million interactions on its platform.
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