Robotics startup Miko raises $2.25 mn in fresh funding

Robotics startup Miko raises $2.25 mn in fresh funding
Co-founders of Miko (from left to right): Prashant Iyengar, Sneh Vaswani and Chintan Raikar
25 Sep, 2019

Mumbai-based Miko, which makes robots for consumer use, has raised around $2.25 million in a fresh round of funding.

The company, on September 21, allotted 2,403 shares with a face value of Rs 100 at a premium of Rs 66,419 per share to 10 angel investors, according to regulatory filings.

The round was led by WNS group chief executive officer and Nasscom chairman Keshav R Murugesh.

With the latest funding round, the startup has raised $14.46 million till date.

Last month, Miko raised $7.5 million in Series A round led by Chiratae Ventures. YourNest Venture Capital, investor Bruno Raschle’s family office and a group of angel investors also participated in that round. 

The company had raised $2.71 million in a funding round led by Chiratae Ventures in July 2019. 

It had also raised $2 million in April 2018 from Chiratae and YourNest.

RN Chidakashi Technologies, which operates Miko, was founded in 2014 by IIT Bombay alumni Sneh Vaswani, Prashant Iyengar and Chintan Raikar.

Miko is a consumer electronics company that makes products combining robotics, artificial intelligence (AI) and Internet of Things (IoT). The company claims to have made products that include robots as human companions and navy-grade autonomous underwater vehicles.

The company’s products are available on ecommerce platforms like Flipkart and offline retailers like Croma and Hamleys.