Robotics Startup Miko Raises USD 10.5 Mn led by iHeartMedia The company claims to operate in more than 140 countries, including US, Europe, and the Middle East.
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Mumbai-based robotics startup Miko has secured USD 10.5 million (around INR 93.5 crore) in funding led by American audio media company iHeartMedia.
The new capital comes after the company's USD 15.8 million Series D funding round in October last year, which saw participation from IvyCap Ventures Advisors and other investors.
Founded in 2015 by Sneh Vaswani, Prashant Iyengar, and Chintan Raikar, Miko develops emotionally intelligent robots that use artificial intelligence, robotics, and the Internet of Things to educate and entertain children.
The company's AI-powered robots, such as Miko 3 and Miko Mini, are designed to create interactive and personalised learning experiences for children aged between 5 and 12 years.
The startup claims to operate in more than 140 countries, including US, Europe, and the Middle East. Miko's product range includes Miko 3, the flagship conversational learning robot; Miko Mini, a compact version; Miko Chess Grand, which blends AI with traditional chess; Miko Max, a subscription-based content service; and Mikonnect, a secure video-calling feature for families.
Miko and iHeartMedia have also entered into a strategic partnership to integrate iHeart's audio content into Miko's devices, expanding the learning and entertainment ecosystem for young users. Recently, Miko announced its entry into Costco's retail network in North America, marking another milestone in its global expansion.
In India, Miko faces competition from other child-focused robotics and educational technology startups such as Avishkaar, SP Robotics, STEMROBO Technologies, and PlayShifu.
