February 13, 2021

Robotic maker Miko raises Rs 23 crore in pre-series B led by Stride Ventures

Mumbai: Mumbai-based Miko, that makes emotive robots for kids has raised a pre-series B spherical of funding of Rs 23 crore led by Stride Ventures. The funds will likely be used in direction of additional market share enlargement.

The corporate’s present traders together with Chiratae Ventures, YourNest Enterprise Capital and a gaggle of angel traders led by the previous Nasscom chairman and Group CEO of WNS International Providers, Keshav Murugesh have additionally participated within the spherical.

After Miko’s US enlargement earlier final yr, it has scaled its person base in additional than 90 nations, it stated. The corporate additionally stated it had seen an over 20% month-on-month development in engagement throughout the pandemic crossing 70 million interactions on its platform.

Miko was based in 2015 by three IIT Bombay graduates, Sneh R Vaswani, Prashant Iyengar and Chintan Raikar.

Ishpreet Gandhi, Founder & Managing Accomplice, Stride Ventures, stated ”The funding in Miko represents Stride’s dedication to enabling frontier applied sciences which have the potential to disrupt the established order. We’re proud to be related to an organization that’s revolutionizing pedagogy by interactive IoT.”

Stride Ventures launched its maiden fund in 2019 with a goal corpus of INR 500 crores and plans to put money into 35-40 startups over the subsequent three years.

“Miko 2 has now advanced into a robust content material subscription platform with world content material alliances. We’re on observe to surpass the 100,000-user mark within the coming quarters with Miko 2 internet hosting a whole lot of purposes and use instances. It’s very encouraging for the complete Miko workforce to construct a worldwide client know-how model out of India” stated Sneh R Vaswani, Co-Founder and CEO, Miko.