Child Companion Robot Maker Miko Secures Rs 1,325 Crore in Series D Funding

Child companion robot maker Miko is successfully raising Rs 1,325 crore ($155 million) in its Series D funding round backed by the AMDG-PAX Foundation, a US-based non-profit organisation. The board of RN Chidakashi Technologies Private Limited, operating under the name Miko, has authorised a special resolution to issue 22,465 preference shares at a price of Rs 5.9 lakh each to generate this amount, as detailed in their regulatory filing with the Registrar of Companies (RoC).

According to the filing, the newly acquired funds will be used to fulfil business needs and for general corporate purposes. The startup Superb has estimated the company’s post-money valuation to be around $550 million, reflecting a 2.7X increase since the last funding round. Miko did not respond to queries sent on Friday until the publication of this article.

Miko.ai operates on a hybrid model that offers AI-powered robots, including Miko Mini and Miko 3, priced between Rs 15,000 and Rs 25,000, while also promoting a premium subscription service, Miko Max, to secure recurring revenues beyond device sales. The company proudly serves customers across over 140 countries, including regions such as the US, Europe, and the Middle East.

Up to now, Miko has accumulated more than $75 million in funding (not counting this current round), which includes a $29 million Series B round led by IvyCap Ventures. Based on the filing, the AMDG-PAX Foundation will own 27.87% of the company following the share allotment.

Although Miko’s Indian entity has yet to submit its FY25 annual report, reports show that operational revenue surged by 58% to Rs 358 crore in FY24, compared to Rs 225 crore in FY23. The company’s losses were recorded at Rs 120 crore in FY24. Miko’s competition includes other firms like PlayShifu, Avishkaar, and WitBlox.