Robotics startup Emotix, popularly known as Miko, which develops educational and recreational robot toys for children, is raising a INR 53.42 Cr ($7.5 Mn) Series A led by Chiratae Ventures. YourNest Venture Capital, investor Bruno Raschle and a group of angel investors are also participating in Emotix’s latest round.
The company said it would be using the funding to expand internationally to North America, UK and the Middle East. A portion of the funds would be allocated for developing new products and R&D in the areas of emotional and artificial intelligence, which form a crucial component of the Miko emotive robot toy.
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