Miko Robotics Startup Secures $10.5 Million in Funding

Robotics startup Miko has successfully secured $10.5 million (approximately Rs 93.5 crore) in funding, led by iHeartMedia, a prominent audio media company based in the US. Previously, the Mumbai-based firm raised $15.8 million during its Series D funding round in October of last year, with contributions from IvyCap Ventures Advisors and other investors.

About Miko.ai

Founded in 2015 by Sneh Vaswani, Prashant Iyengar, and Chintan Raikar, Miko.ai is at the forefront of robotics and AI technology. The company focuses on developing emotionally intelligent robots designed to educate, entertain, and engage children. Leveraging AI, robotics, and the Internet of Things (IoT), Miko creates personal companion robots, including the Miko 3, which are now available in over 90 countries.

Operations and Offerings

Miko.ai operates under a hybrid business model, providing AI-driven robots like Miko Mini and Miko 3. In addition to securing funding, Miko has formed a partnership with iHeartMedia. This collaboration will enable Miko to incorporate iHeart’s audio content into its robotic devices.

Sneh Vaswani, co-founder and CEO, expressed that the partnership with iHeart represents a significant milestone in Miko’s goal to integrate AI companions into everyday family life.

Global Reach

Miko claims to cater to customers in over 140 countries, including regions like the US, Europe, and the Middle East. The robotics platform employs generative content, sophisticated sensors, and long-term memory to facilitate safe, adaptive, and emotionally engaging interactions.

Recently, Miko has launched its products with retail giant Costco in North America.