Robotics startup Miko, founded by IIT Bombay graduates Sneh R Vaswani, Prashant Iyengar, and Chintan Raikar, along with global experts in engineering, mathematics, design, and education has raised Rs 23 crore in pre-series B funding led by Stride Ventures.
Existing investors YourNest Venture Capital; Chiratae Ventures; Keshav Murugesh, Former Chairman of NASSCOM, and a group of angels participated in this round of funding.
Miko has built India’s first companion robot.
Sneh R Vaswani, Co-founder and CEO, Miko, said, “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.
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. The Stride team added the company also witnessed an immediate increase in demand as parents are hunting for an alternative to screens for their kids.
South Africa Today