Robotics startup Miko has raised $10.5 million (about Rs. 93.5 crore) led by iHeartMedia, a US-based audio company.
The Mumbai-based company had earlier raised $15.8 million in a Series D funding round last October from IvyCap Ventures Advisors and others.
Founded in 2015 by Sneh Vaswani, Prashant Iyengar and Chintan Raikar, Miko.ai is an advanced robotics and artificial intelligence company that develops emotionally intelligent robots to teach, entertain and engage children. The company uses AI, robotics and IoT to create personal robot companions like the Miko 3. It sells its products in more than 90 countries.
Miko.ai operates on a hybrid model, selling AI-powered robots like the Miko Mini and Miko 3. In addition to the funding, Miko and iHeartMedia also entered into a partnership that will see the robotics startup integrate iHeart’s audio content into its devices.
“Our partnership with iHeart marks a pivotal moment in Miko’s mission to make AI companions a part of everyday family life,” said Sne Vaswani, co-founder and CEO.
Miko says it serves customers in more than 140 countries, including the US, Europe and the Middle East. The robotics platform uses generative content, advanced sensors and long-term memory to make interactions safe, adaptive and emotionally engaging.
The brand just started working with retail giant Costco in North America.
