The robotics startup Miko (1) has secured 23 crores INR in the pre-series B funding round. IIT Bombay graduates Sneh Vaswani, Prashant Iyengar, and Chintan Raikar founded the company. Their team includes global experts in mathematics, engineering, design, and education.
Along with Stride Ventures, its existing investors, Chiratae Ventures, YourNest Venture Capital, Keshav Murugesh, the former NASSCOM Chairman, and a cohort of angel investors participated in the funding round. Notably, Miko is India’s first companion robot.
In a shared press statement with Stride Ventures, Sneh R Vaswani, the Co-founder and CEO of Miko stated that our growth journey till Miko 2.0 focused on creating a product to meet today’s parents’ requirements who are seeking a positive and trusted technology gateway.
He added that Miko 2.0 has now evolved into a robust content subscription platform with global content alliances. The company is embarking on a journey to cross the 100K user mark in the upcoming quarter. Moreover, the team is delighted to build a global consumer technology brand.
Miko Addresses the Complex Gap in Education, Technology, and Entertainment, and Enables Effective Parenting
Notably, Miko 2.0 can see, sense, hear, talk, express, recognize faces, remember names, initiate a conversation, identify moods, learn from its environment. It can also use these features to develop a bond with the child intuitively.
The press statement further added that Miko 2.0 enables effective parenting via addressing a complex need-gap. It includes technology, education, and Entertainment. While commenting on the latest investment, the Founder and Managing Partner of Stride Ventures, Ishpreet Gandhi, stated that the Stride mission is to make the credit ecosystem more accessible for startups.
The latest investment in Miko reflects Stride’s commitment to enable frontier technologies with the potential to disrupt the startup quo. The company has now expanded its user-base across 90 countries, including the US. The company claims that it has observed a 20% month-on-month growth engagement during the pandemic. Moreover, the company also has over 70 million interactions on its platform.