$2M Funding for Emotix, from IDG Ventures India, YourNest
Robotics startup Emotix has raised $2 million in a funding round led by venture capital firms IDG Ventures India and YourNest. The startup, which was founded by three IIT-Bombay graduates, has created India’s first personal companion robot, Miko, which is focused on educating and entertaining children. The funds will be used for new product development and research in the area of consumer robotics focussed on emotional and artificial intelligence.
“Over the past two-and-a-half years, we have created a hardware product for consumers specifically focusing on children from the age of 5 to their teenage years. The robot Miko has a conversation and can teach them about diverse things from flowers to cars.”
“Besides a consistent growth rate in sales, we surpass some of the best AI conversational stacks globally, by clocking 37 times the average session duration with our user as compared to industry peers.”
Source : The article was first published in Economic Times.