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Exclusive: Robotics startup Miko to raise $155 Mn at $550 Mn valuation

EntrackrEntrackr · 22d ago
Exclusive: Robotics startup Miko to raise $155 Mn at $550 Mn valuation
Medial

Exclusive: Robotics startup Miko to raise $155 Mn at $550 Mn valuation Child companion robot maker Miko is raising Rs 1,325 crore ($155 million) in its Series D round from AMDG-PAX Foundation, a US-based non-profit organisation. The board of RN Chidakashi Technologies Private Limited, which operates under the brand name Miko, has passed a special resolution to issue 22,465 preference shares at an issue price of Rs 5.9 lakh each to raise the sum, its regulatory filing with the Registrar of Companies (RoC) shows. According to the filing, the fresh proceeds will be utilized to meet business requirements and other general corporate purposes. Entrackr estimates the company’s post-money valuation at around $550 million, a 2.7X increase from its previous round. Queries sent to Miko on Friday did not receive any response until the story was published. Miko.ai runs on a hybrid model, selling AI-powered robots such as Miko Mini and Miko 3 priced in the Rs 15,000–25,000 range, while also pushing its premium subscription Miko Max to drive recurring revenues beyond device sales. The company claims to serve customers in over 140 countries, including the US, Europe, and the Middle East. So far, Miko has raised over $75 million (excluding this round), including a $29 million Series B round led by IvyCap Ventures. According to the filing, AMDG-PAX Foundation will hold 27.87% (post-allotment) of the firm. While Miko’s Indian entity has yet to file its FY25 annual report, its revenue from operations grew 58% to Rs 358 crore in FY24, compared to Rs 225 crore in FY23. Its losses stood at Rs 120 crore in FY24. Miko competes with PlayShifu, Avishkaar, and WitBlox, among others.

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Exclusive: Miko raises fresh capital at over $200 Mn valuation

EntrackrEntrackr · 1y ago
Exclusive: Miko raises fresh capital at over $200 Mn valuation
Medial

Robotics firm Miko, a product of Emotix, has raised Rs 20.5 crore (approximately $2.5 million) in a new round from a group of angel investors. This fresh equity infusion comes after a two-year hiatus for the Mumbai-based company. The board at Miko has passed a special resolution to issue 679 Series C CCPS at an issue price of Rs 3,02,695 each to raise Rs 20.55 crore or $2.5 million, its regulatory filing accessed from the Registrar of Companies shows. Moneycrew Fintech injected Rs 4.5 crore while the rest of the sum was poured in by angel investors including Amrapali B Doshi, Sanjiv Sarita, Amit Jain, Satyam Sinha, Inderjit Kaur Arora, and others. According to TheKredible’s estimates, the company has been valued at around Rs 1,711 crore or $206 million post-allotment. This is a 2.3X jump in the valuation as compared to its last equity round. Miko creates emotionally intelligent robots that leverage artificial intelligence and the Internet of Things (IoT) in developing its flagship brands Miko, Miko 2 and Miko 3. After the success of its first-generation robots, the company launched an advanced version that uses voice-recognition technology to see, hear, sense, express, talk, and recognize faces. Miko has raised over $60 million to date including its $29 million Series B round led by Ivycap Ventures in 2021. According to the startup data intelligence platform TheKredible, prior to this round Chiratae Ventures was the largest external stakeholder with 13.77% followed by IvyCap Ventures with 13%. See TheKredible for the complete shareholding pattern. The Chiratae-backed startup showcased impressive 2.3X growth to Rs 225 crore in FY23 from Rs 95 crore in FY22. However, the bottom of the company stood at Rs 108 crore in FY23. Miko is yet to file annual results for FY24.

Exclusive: Miko set to raise Rs 28 Cr in Series C round

EntrackrEntrackr · 9m ago
Exclusive: Miko set to raise Rs 28 Cr in Series C round
Medial

Robotics firm Miko, a product of Emotix, is raising Rs 28 crore ($3.3 million) as part of its Series C round. This new tranche comes just three months after its previous tranche for the Mumbai-based startup. In August, it raised Rs 20.5 crore (approximately $2.5 million) in a new round from a group of angel investors at a valuation of $200 million. Entrackr exclusively reported the development then. The board of Miko has passed a resolution to issue upto 924 Series C CCPS at an issue price of Rs 3,02,694.58 each aggregating to Rs 27.96 crore to IvyCap Ventures Trust Fund III, in one or more tranches. The company will deploy funds for business requirements and for general corporate purposes including inter alia for funding continued research and product development, sales and marketing cost and operating expenses and working capital. Miko specializes in emotionally intelligent robots, integrates artificial intelligence (AI) and the Internet of Things (IoT) into its flagship products: Miko, Miko 2, and Miko 3. Following the success of its first-generation robots, the firm introduced an advanced version equipped with voice-recognition technology, enabling the devices to see, hear, sense, express, talk, and recognize faces. The company claims to serve customers across 140 countries, including regions like the US, Europe and the Middle East. To date, Miko has raised over $60 million, including a $29 million Series B funding round led by IvyCap Ventures in 2021. According to startup intelligence platform TheKredible, prior to this round, Chiratae Ventures held the largest external stake at 13.77%, followed by IvyCap Ventures with 13%. While Miko’s Indian entity has yet to file its annual financial report for FY24, its revenue from operations surged 137.5% to Rs 225.6 crore in FY23 as compared to Rs 95 crore in FY22. The company’s losses also rose 39% to Rs 107.7 crore in FY23. Miko competes with PlayShifu, Avishkaar, and WitBlox, among others.

Exclusive: Droom India raises funds at $360 Mn valuation

EntrackrEntrackr · 6m ago
Exclusive: Droom India raises funds at $360 Mn valuation
Medial

Exclusive: Droom India raises funds at $360 Mn valuation IPO-bound used car marketplace Droom is raising Rs 25 crore (approximately $2.9 million) in a fresh funding round co-led by India Accelerator (IA), and Rameshchandra Shah. The board at Droom has passed a special resolution to issue 15,62,500 preference shares at an issue price of Rs 160 each to raise Rs 25 crore or $2.9 million, its regulatory filings sourced from the Registrar of Companies (RoC) shows. India Accelerator and Shah both will invest Rs 5 crore each, Shirish Patel, CEO of Prudent Corporate Advisory (wealth management company) will invest Rs 3 crore and the remaining amount will be invested by other individual investors. The firm will use these proceeds for general corporate purposes, the filings said. As per Entrackr’s estimates, the Gurugram-based firm will be valued at approximately Rs 3,097 crore or $360 million post-allotment. “We deliberately kept the valuation very low for the Indian subsidiary as a strategic move to give material upside to Indians who did not have opportunity to participate in the making of Droom in the past one decade,” said Sandeep Aggarwal, Founder and CEO of Droom, in response to queries about the company's valuation. “We plan to raise a bit more capital in the near term at much higher valuation both in Singapore and India…” Droom is an online marketplace for buying and selling used vehicles, including cars, motorcycles, and electric vehicles. It also offers rental services. According to startup data intelligence platform TheKredible, Droom has raised approximately $330 million from investors including 57 Stars, Seven Train Ventures, Lightbox, and Beenext. Droom reported Rs 85 crore in revenue for FY24, a 66% decline from Rs 253 crore in FY23. It managed to reduce its losses by 35% to Rs 40 crore in FY24. Droom is reportedly planning to file draft papers for a Rs 1,000 crore IPO in 2027, targeting a valuation between $1.2 billion and $1.5 billion.

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