Mumbai-based Miko, a robotics company under the Emotix umbrella, has successfully raised $2.5 million in fresh equity from a group of angel investors. This funding round marks a significant milestone for Miko after a two-year pause and pushing its post-funding valuation to $206 million.
Miko Robotics approved a special resolution to issue 679 Series C CCPS at INR 3,02,695 each, totaling INR 20.55 crore or approximately $2.5 million. According to regulatory filings with the Registrar of Companies, Moneycrew Fintech contributed INR 4.5 crore, with the remaining amount invested by prominent angel investors such as Amrapali B Doshi, Sanjiv Sarita, Amit Jain, Satyam Sinha, and Inderjit Kaur Arora.
This latest funding round significantly boosts Miko’s valuation, which now stands at Rs 1,711 crore, or $206 million, a 2.3x increase from its previous equity round.
Miko’s Cutting-Edge Robotics
Miko Robotics is known for developing emotionally intelligent robots integrating advanced technologies like Artificial Intelligence (AI) and the Internet of Things (IoT). Its flagship products, Miko, Miko 2, and Miko 3, have garnered attention for their ability to see, hear, sense, express, and recognize faces, thanks to integrated speech recognition and other high-tech features.
To date, Miko Robotics has raised over $60 million, including a significant $29 million Series B round led by IvyCap Ventures in 2021. Data from the market indicates that Chiratae Ventures is the largest external shareholder, holding 13.77 percent, followed closely by IvyCap Ventures with 13 percent.
Miko has demonstrated robust growth, with revenue soaring from INR 95 crore in FY22 to INR 225 crore in FY23, a 2.3x increase. However, the company reported a net loss of INR 108 crore for FY23. Miko has not disclosed its FY24 financial results, but its growth trajectory remains strong in the competitive tech landscape.
Miko’s recent $2.5 million funding round underscores its strong position in the robotics and AI industry. With a valuation now at $206 million, the company continues to lead in developing emotionally intelligent robots that leverage AI and IoT technologies.
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