TLDR: Mumbai-headquartered robotics startup Miko has successfully raised $10.5 million (approximately ₹93.5 crore) in a funding round led by American audio media giant iHeartMedia. This investment is coupled with a strategic partnership that will see iHeartMedia’s extensive audio content integrated into Miko’s AI-powered companion robots, aiming to enhance engagement for children and families globally.
Mumbai-based robotics startup Miko has announced a significant funding boost, securing $10.5 million (approximately ₹93.5 crore) in a fresh investment round. The funding was led by iHeartMedia, a prominent American audio media company. This financial injection is part of a broader strategic partnership that will integrate iHeartMedia’s vast library of audio content into Miko’s range of AI-powered robots, including its popular Miko Mini and Miko 3 devices.
The collaboration is poised to deepen engagement for children and families who utilize Miko’s AI companions across the globe, particularly in North America where Miko recently launched with retail giant Costco.
Founded in 2015 by Sneh Vaswani, Prashant Iyengar, and Chintan Raikar, Miko.ai has established itself as a global robotics and AI company dedicated to developing emotionally intelligent robots. These robots are designed to educate, entertain, and engage children by blending artificial intelligence, robotics, and the Internet of Things (IoT).
Miko’s advanced AI platform is a cornerstone of its offerings, utilizing generative content, sophisticated sensors, and long-term memory capabilities. This allows for adaptive, safe, and emotionally engaging interactions, making the robots more than just toys but true companions for learning and creativity.
Sneh Vaswani, co-founder and CEO of Miko, emphasized the importance of this alliance, stating, “Our partnership with iHeart marks a pivotal moment in Miko’s mission to make AI companions part of everyday family life.”
This latest funding round follows Miko’s $15.8 million Series D funding in October of the previous year, which saw investments from IvyCap Ventures Advisors and other investors. Miko currently serves customers in over 140 countries, including the US, Europe, and the Middle East, operating on a hybrid model that combines direct sales and subscriptions.
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The investment reflects a growing interest in AI-driven consumer robotics, with the market for educational robotics in India alone projected to reach $189.1 million by 2030, exhibiting a compound annual growth rate (CAGR) of 32.1% from 2025. This trend underscores the increasing role of automation and generative technologies in transforming learning, entertainment, and connected devices.
