Robotics startup Miko raises $10.5 Mn led by iHeartMedia

Robotics startup Miko has raised $10.5 million (around Rs 93.5 crore) led by iHeartMedia, an American audio media company.

The Mumbai-based company had previously raised $15.8 million in a Series D funding round in Oct. last year from IvyCap Ventures Advisors and others.

Co-founded in 2015 by Sneh Vaswani, Prashant Iyengar, and Chintan Raikar, Miko.ai is an advanced robotics and AI company that develops emotionally intelligent robots to educate, entertain, and engage children. The company uses AI, robotics, and IoT to create personal companion robots like the Miko 3. It sells its products in over 90 countries.

Miko.ai operates on a hybrid model, selling AI-powered robots such as Miko Mini and Miko 3. Beyond funding, Miko and iHeartMedia have also entered into a partnership under which the robotics startup will integrate iHeart’s audio content into its devices.

“Our partnership with iHeart marks a pivotal moment in Miko’s mission to make AI companions part of everyday family life,” said Sneh Vaswani, co-founder and CEO.

Miko says that it serves customers in over 140 countries, including the US, Europe, and the Middle East.  The robotics platform uses generative content, advanced sensors, and long-term memory to make interactions safe, adaptive, and emotionally engaging.

The brand has just gone live with retail giant Costco in North America.