Robotics startup Miko raises $10.5 Mn led by iHeartMedia
The Mumbai-based robotics startup Miko AI has successfully raised $10.5 million in a new funding round, which was led by U.S. audio media giant iHeartMedia.
Miko develops emotionally intelligent, AI-powered companion robots, such as the Miko 3 and Miko Mini, which use AI and IoT to provide interactive learning and entertainment experiences for children.
Key Highlights of the News:
Strategic Partnership: Alongside the investment, Miko and iHeartMedia have entered a strategic partnership to integrate iHeartMedia's extensive audio-content library (music, podcasts, stories) directly into Miko's devices, enhancing the content ecosystem for young users.
Use of Funds: The new capital will be used to accelerate the development of Miko's AI technology, invest in R&D, scale production to meet rising demand, and further its global expansion, particularly in North America (where it recently began retail rollout with Costco).
Company Reach: Founded in 2015, Miko claims to operate in over 140 countries, including the U.S., Europe, and the Middle East.
Total Funding: This latest round adds to Miko's total funding, which now stands at over $75 million.