US-India based robotics start-up company Emotix raised INR 18.58 C ($2.69 Mn) to expand overseas.
Emotix, or more popularly known as Miko, develops educational and recreational robot for children. Miko 2, its latest robot, can hear, sense, speak, and has the capacity to remember names, identify moods, recognize faces, and initiate conversations.
Founded in 2015 by IIT Bombay graduates Sneh Vaswani, Prashant Iyengar and Chintan Raikar, the company plans to expand its market to North America, UK, and the Middle east.
The raise is led by Chiratae Ventures. The company would have to compete with already existing robotics products in the said market. Miko plans to launch in North America ahead of the holiday season, as a part of its international expansion initiative. The company plans to start its expansion ahead of the holiday season this year.