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 firm’s present traders together with Chiratae Ventures, YourNest Venture Capital and a bunch of angel traders led by the previous Nasscom chairman and Group CEO of WNS Global Services, Keshav Murugesh have additionally participated in the spherical.
After Miko’s US enlargement earlier final yr, it has scaled its consumer base in greater than 90 nations, it mentioned. The firm additionally mentioned it had seen an over 20% month-on-month development in engagement through 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 Partner, Stride Ventures, mentioned ”The funding in Miko represents Stride’s dedication to enabling frontier applied sciences which have the potential to disrupt the established order. We are proud to be related to an organization that’s revolutionizing pedagogy by way of interactive IoT.”
Stride Ventures launched its maiden fund in 2019 with a goal corpus of INR 500 crores and plans to speculate in 35-40 startups over the following three years.
“Miko 2 has now evolved into a powerful content subscription platform with global content alliances. We are on track to surpass the 100,000-user mark in the coming quarters with Miko 2 hosting hundreds of applications and use cases. It’s very encouraging for the entire Miko team to build a global consumer technology brand out of India” mentioned Sneh R Vaswani, Co-Founder and CEO, Miko.