Miko, the India-born global robotics startup has raised $28 million in Series B round led by IIFL AMC, Mankind Pharma Family Office, Aroa Ventures – family office of OYO founder Ritesh Agarwal, Manish Choksi from Asian Paints, and a clutch of global investors. All existing institutional investors namely IvyCap Ventures, Chiratae Ventures, YourNest Capital, Bruno E Raschle from Schroder Adveq, and long-standing digital evangelist and mentor, Keshav R Murugesh, (former Chairman of NASSCOM) participated in the round.
The Series B round was facilitated by Validus Wealth and Masterkey. This round comes within four months of the previous round led by IvyCap Ventures, and has witnessed a 200 percent subscription from its targeted raise. Miko has made it official that the raised capital will be used to fund product development and strengthen global alliances as the company builds a strong global brand, the company stated.
The homegrown startup has now scaled its user base to more than 140 countries, with the engagement witnessing a 3x jump through the pandemic. The company claims to be witnessing a massive surge in demand amidst the pandemic as parents are hunting for positive ways to engage kids in lockdown globally. Miko is also aiming for a portfolio of new products in the coming years.