Funding Alert
Robotics startup for kids Miko raises INR 100 Cr in debt funding
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ByStartupStory | May 27, 2022
Miko, a children’s Robotic toys company has raised $13.3 million (100Cr) in debt from stride ventures. Miko’s board of directors has approved a special resolution to issue 10,002 non-convertible debentures (NCDs) at a face value of Rs 1,00,000 each to raise Rs 100 million. This follows after the business announced a $28 million equity round in August of last year.
The firm is planning to use the funds to strengthen working capital and general corporate requirements according to the business plan of the company. So far, It has secured over $50 million across equity and debt since the launch.
Founded in 2015 by Sneh Vaswani, Prashant Iyengar and Chintan Raikar, Miko develops emotionally intelligent robots by combining artificial intelligence and the Internet of Things (IoT) in its flagship brand Miko. Following the success of its first-generation robots, the business released an improved version that sees, hears, senses, expresses, talks, and recognizes faces using voice-recognition technology.
Robotics firm, Miko also allows child-focused content partners and developers to port their content on Miko and monetize via subscription. The firm has customers across 140 countries.
Miko has raised the employee stock options (ESOPs) pool from 1,392 options to 2,418 options.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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