Mumbai-based Robotics startup Miko has raised Rs 23 crore in pre-series B funding round led by Stride Ventures. The round also saw a participation from Existing investors YourNest Venture Capital; Chiratae Ventures; Keshav Murugesh, Former Chairman of NASSCOM, and a group of angels.
Robotics startup Miko was founded by IIT Bombay graduates Sneh R Vaswani, Prashant Iyengar, and Chintan Raikar in 2015. After the success of their first generation of Miko, the company launched Miko 2, a robot that can see, hear, sense, express, talk, recognize faces, remember names, identify moods, initiate a conversation and learn from its own environment.
Sneh R Vaswani, Co-founder and CEO, Miko, said in a press statement shared by Stride Ventures, “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.”
Ishpreet Gandhi, Founder and Managing Partner, Stride Ventures, talking about the investment said,” 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 has now expanded its user base across 90 countries, including the US. It claims to have seen a 20 percent month-on-month growth in engagement during the pandemic. It now has over 70 million interactions on its platform.