Miko, an Indian robotics company, raised 23Cr in Pre-Series B funding.
The round was led by Stride Ventures with participation from existing investors Chiratae Ventures, YourNest Capital and Mr. Keshav Murugesh.
The company intends to use the funds to for product development and global alliances.
Founded in 2015 by IIT Bombay graduates Sneh R Vaswani, Prashant Iyengar and Chintan Raikar, along with global experts in engineering, mathematics, design and education, Miko is a robotics leader focused on creating emotionally intelligent solutions by leveraging proprietary artificial intelligence, robotics and IoT.
After the 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 to intuitively develop a bond with a child. Miko 2 addresses a complex need-gap of education, technology, entertainment and hence an enabler in effective parenting, like none other.
The company has 150 employees in the US and India.