Recently, global robotics startup Miko received $28 million in new funds as a part of its Series B funding round, which was organized by Validus Wealth and Masterkey.
The funding round involved a number of global investors and was led by IIFL AMC, Mankind Pharma Family Office, Aroa Ventures, Ritesh Agarwal, Manish Choksi from Asian Paints.
Just four months ago, the company completed another funding round which was led by Ivy Ventures.
Compared to the previous round, the most recent fundraising round saw a 200% increase in applications to participate.
Investors from the previous round also participated in series B, including IvyCap Ventures, Chiratae Ventures, YourNest Capital, Schroder Adveq’s Bruno E Raschle, and Keshav R Murugesh.
The new money will be used to develop products and strengthen global alliances to build a brand that has a strong influence over the world.
Miko’s Co-Founder and CEO, Sneh R Vaswani is pleased to welcome the Series B investors who have supported Miko in its journey and also appreciates the support. At present, startup Miko has 150 employees across the US, UK and India.
Six years ago, a group including the graduates from IITs Bombay, Sneh R Vaswani, Prashant V Iyengar and Chintan S Raikar with the global experts in departments such as mathematics, engineering, education and design first created Miko.
IIFL AMC’s Senior Executive Vice President, Vikrant Sibal expressed confidence in partnering with a technology and product platform built in India and geared towards the global market. He is also pleased that Miko has secured a growth trajectory for the near future.
Rajeev Juneja from Mankind Pharma appreciated the growth performance of the company despite the world going through a pandemic that is severely disrupting trade.
During the pandemic, the startup has experienced a 3-fold increase in clients and has expanded its user base to more than 140 countries. Miko plans to launch new products in the coming year.