Mumbai-headquartered robotics startup Miko has secured USD 10.5 million (~INR 93.11 crore) in a fresh funding round led by U.S. audio media giant iHeartMedia, marking a strategic milestone in the company’s journey toward redefining the intersection of artificial intelligence (AI), education, and entertainment.
This latest infusion follows Miko’s USD 15.8 million (~INR 140 crore) Series D round in October 2024, backed by IvyCap Ventures Advisors and other investors, bringing its total funding to over USD 75 million (~INR 665 crore) to date. The fresh capital will be used to scale operations, strengthen global retail presence, and enhance Miko’s AI-driven content ecosystem for children.
A Strategic Alliance for AI-Powered Family Companionship
Beyond capital, the partnership with iHeartMedia represents a significant leap in Miko’s product and content strategy. The collaboration will integrate iHeartMedia’s extensive catalogue of audio content — including music, podcasts, and stories — directly into Miko’s AI companion robots.
This move is designed to deepen engagement and expand the range of interactive experiences available to families using Miko’s robots. By merging iHeartMedia’s audio assets with the company’s proprietary AI and robotics technology, the company aims to build a comprehensive edutainment ecosystem.
“Our partnership with iHeart marks a pivotal moment in the company’s mission to make AI companions part of everyday family life,” said Sneh Vaswani, co-founder and CEO of Miko. “We are committed to creating emotionally intelligent robots that can both educate and entertain.”
Echoing this sentiment, David Ellis, Executive Vice President of Ventures at iHeartMedia, stated, “iHeart reaches 9 out of 10 Americans every month, and we couldn’t be more thrilled to help make Miko a household name across North America. The company’s AI-native robotics has the potential to reshape sectors from education and entertainment to connected living.”
Building Emotionally Intelligent Robots for Children
Founded in 2015 by Sneh Vaswani, Prashant Iyengar, and Chintan Raikar, the company develops emotionally intelligent companion robots that blend AI, robotics, and the Internet of Things (IoT) to educate, entertain, and emotionally engage children.
The company’s product line includes:
- Miko 3, the flagship conversational learning robot;
- Miko Mini, a compact version for younger children.
- Miko Chess Grand, combining AI and traditional gameplay;
- Miko Max, a subscription-based content streaming service, and
- Mikonnect, a secure video-calling platform for families.
These devices are designed to foster natural, adaptive, and safe interactions using generative content, advanced sensors, contextual learning, and long-term memory. The company’s AI platform enables emotion recognition, personalized learning paths, and child-safe controls for parental oversight.
Expanding Global Reach and Retail Presence
The company claims to serve users in over 140 countries, including the United States, Europe, and the Middle East. The brand recently went live with retail giant Costco in North America, marking a crucial step in its retail and market expansion strategy.
The company operates on a hybrid sales model, combining direct product sales and subscription-based services, aligning with its vision to build sustainable, content-rich engagement with families worldwide.
Miko: Industry Context and Outlook
The company’s latest fundraise reflects the growing investor interest in AI-driven consumer robotics, especially within the education and family entertainment sectors. The convergence of voice-based interaction, generative AI, and connected devices is reshaping how children learn and play globally.
According to market research, India’s educational robotics sector is projected to reach USD 189 million (~INR 1,676.05 crore) by 2030, growing at a compound annual growth rate (CAGR) of 32.1% from 2025. The company’s success underscores India’s emergence as a serious innovator in the global AI and robotics landscape.
Conclusion
Miko’s INR 93 crore funding led by iHeartMedia is more than just a financial milestone — it is a statement about the future of AI-enabled family experiences. As the company continues to expand its global footprint, strengthen partnerships, and refine its emotional AI technology, it stands as one of India’s most promising exports in the AI-powered robotics space.
In the words of many industry observers, Miko’s journey epitomizes a new era of “Made in India, Built for the World.” For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.