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Robotics startup Miko raises Rs 23 crores in Series B round

Robotics startup Miko was founded back in 2015 by three IIT graduates  Sneh R Vaswani, Prashant Iyengar and Chintan Raikar. Recently, the company has raised a funding of Rs 23 crores in a Series B round. Stride Ventures led the round while many existing investors including Chiratae Ventures, YourNest Venture Capital and a group of angel investors, led by former Nasscom chairman Keshav Murugesh also gave their input.

About Robotics startup Miko

The first product of the company was Mico Robot, and then they launched the Mico 2. The 2nd generation product had far more superior technology as compared to its predecessor. Mico 2 robot could see, hear, express, sense, talk, remember names, recognise faces, identify moods, initiate a conversation. The robot even had the capability to learn and adapt to its environment.

Robotics startup Miko

Image Source: Mobile Marketing Magazine

Talking about their approach till the 2nd generation Miko 2, 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”.

Growth of the company

Since it was first started in 2015, it has shown huge growth. The company now has a customer base from 90 different countries and has been registering a 20% monthly increase in engagement on its platforms. Over the years, the demand for their product has also increased a lot. Seeing that technology has been evolving at a rapid rate, and so is its acceptance, Miko has a huge future ahead.

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Seeing the potential of the company, the main investor of the Series B round founder of Stride ventures, Ishpreet Gandhi commented.

“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 (internet of things).”

With IoT becoming a more integral part of our lives, startups like Miko will not only see growth but a lot of investors willing to fund the company.

The Mico Robo 2 is quite expensive but is definitely worth the price. This is if as parents, you would want something interactive for your kid to play with. What are your thoughts on the same? Do let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Read: Razorpay enters unicorn club after raising $100 Million



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