Mumbai-based robotics startup Emotix, the maker of India’s popular child companion robot Miko, has received board approval to raise INR 1,325 crore (about $151 million) from the US-based non-profit AMDG-PAX Foundation. This large funding infusion will help the company scale its product development and global business operations.
Who is Emotix and What is Miko?
Emotix is a technology startup known for creating emotionally intelligent robots designed especially for children. Their flagship product, Miko, is an AI-powered learning and play robot. Miko uses advanced technologies like voice recognition, facial recognition, and emotional interaction to engage with kids in a friendly manner.
Miko robots help children learn through interactive storytelling, educational games, and conversation. They are designed to be a supportive friend who aids learning and development in young minds.
Funding and Business Growth
The fresh INR 1,325 crore funding round from AMDG-PAX Foundation is one of the largest for an Indian robotics startup. This capital boost comes as Emotix aims to expand globally, tapping markets in over 140 countries, including the US, Europe, and the Middle East.
Even though Emotix posted a net loss of INR 120 crore last year, its revenue showed robust growth of 58%, reaching INR 358 crore in FY24. These figures highlight strong business momentum and investor confidence in future prospects.
Expansion Plans and Vision
Emotix plans to use the new funds to accelerate research in Artificial Intelligence and Internet of Things, improve product features, and grow its marketing and sales teams. The goal is to reach millions more children worldwide with Miko robots.
The company is also focused on enhancing the robot’s emotional intelligence and interactivity to provide a vastly improved user experience. This will help position Miko as a leading global brand in educational robotics.
Importance of Indian Tech and Robotics
Emotix’s success story marks a significant milestone for India’s tech startup ecosystem. It transforms how Indian companies are innovating in AI and robotics, competing on a global stage.
Miko’s emotional intelligence capabilities represent a new frontier in robotics, combining technology with empathy to create devices that truly connect with human users. This brings a unique advantage for Indian startups to lead in the future of AI-driven consumer robots.