Robotics firm Miko, a product of Emotix, has raised Rs 20.5 crore in a new round from a group of angel investors. The board at company has passed a special resolution to issue 679 Series C CCPS at an issue price of Rs 3,02,695 each to raise Rs 20.55 crore or $2.5 million, its regulatory filing accessed from the Registrar of Companies shows.

The company has been valued at around Rs 1,711 crore or $206 million post-allotment. This is a 2.3X jump in the valuation as compared to its last equity round.

Miko creates emotionally intelligent robots that leverage artificial intelligence and the Internet of Things (IoT) in developing its flagship brands Miko, Miko 2 and Miko 3. After the success of its first-generation robots, the company launched an advanced version that uses voice-recognition technology to see, hear, sense, express, talk, and recognize faces.

The company showcased impressive 2.3X growth to Rs 225 crore in FY23 from Rs 95 crore in FY22. However, the bottom of the company stood at Rs 108 crore in FY23.

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