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Mumbai based robotics startup Miko has successfully closed a $10.5 million funding round from iHeartMedia, the prominent US-based audio media company. This investment marks a strategic milestone for the Indian robotics firm as it seeks to strengthen its position in the North American market and expand its innovative product offerings.
About Miko
Established in January 2015, Miko was founded by three IIT Bombay alumni – Chintan Raikar, Prashant Iyengar, and Sneh Vaswani. The company has developed an AI-powered robotics platform that leverages cutting-edge technology to create companion robots for families and children. Miko’s products utilize generative content, advanced sensors, and long term memory capabilities to deliver interactions that are not only safe but also adaptive and emotionally engaging.
The startup operates on a hybrid business model, offering AI-powered robots such as Miko Mini and Miko 3. These devices are designed to serve as educational and entertainment companions, helping children learn while keeping them engaged through interactive experiences.
Strategic Partnership with iHeartMedia
Beyond the financial investment, this funding announcement includes a strategic partnership between Miko and iHeartMedia. The collaboration will see iHeartMedia’s extensive audio content library integrated into Miko’s robotic devices, enhancing the value proposition for customers. Given that iHeartMedia reaches nine out of ten Americans every month, this partnership provides Miko with a powerful channel to establish brand recognition across North America.
Sneh Vaswani, Co-founder and CEO of Miko, expressed enthusiasm about the partnership, stating that it represents a pivotal moment in the company’s mission to make AI companions an integral part of everyday family life.
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Global Presence and Future Outlook
Miko has already established a substantial international footprint, serving customers across more than 140 countries, including key markets in the United States, Europe, and the Middle East. The fresh capital infusion will be deployed toward supporting business operations and general corporate purposes, enabling the company to scale its operations and enhance product development.
As AI-powered robotics continues to gain traction in education and entertainment sectors, Miko’s latest funding round positions the company well for sustained growth in an increasingly competitive market.
