Mumbai-based robotics company Emotix has received board approval to raise around INR 1,325.37 Cr ($151 Mn) from AMDG-PAX Foundation through issuance of preferential shares.
According to the Ministry of Corporate Affairs filing accessed by Inc42, Emotix’s board approved the issue of 22,464 Series D2 CCPS to AMDG-PAX Foundation at an issue price of INR 5,90,000 per share on March 28.
Entrackr reported the development first.
Founded in January 2015 by IIT Bombay alumni Chintan Raikar, Prashant Iyengar and Sneh Vaswani, Miko’s parent Emotix develops educational and recreational robot toys for children. The company has so far launched three products under the Miko range of educational robots.
Its product offerings include Miko Mini (an AI-powered conversational learning robot), Miko Chess Grand, and Miko 3 (an AI-powered smart robot designed for children), among others. It also offers a kids’ streaming experience via Miko Max.
The post-money valuation of the company after the latest round stood at around $580 Mn.
As per several media reports, Emotix raised capital in two funding rounds last year at a valuation of $200 Mn. In August, it bagged INR 20.5 Cr from angel investors and Moneycrew Fintech, followed by another INR 28 Cr fundraise from IvyCap Ventures Trust Fund III and others.
The company counts Chiratae Ventures, IvyCap Ventures, YourNest Venture Capital, and Moneycrew Fintech among its backers. Miko competes with PlayShifu, Avishkaar, WitBlox, and Robokidz in the educational robotics segment.
Investors Powering On Robotics Startups
Emotix's funding comes at a time when India's robotics sector is witnessing rapid expansion, fueled by a spike in industrial robot installations and growing use cases across industries such as automotive and healthcare. Rising labour costs, government push through the PLI scheme and AI breakthroughs are accelerating this shift towards automation for greater efficiency and accuracy.
Investors are ramping up their bets on robotics startups as automation gains traction, driving down costs and development timelines. Last year, PlayShifu was said to be raising $6 Mn from Inflexor Ventures, Chiratae Ventures, Bharat Innovation Fund and Athera Ventures Partners.
As per, Grand View Research, the educational robot market in India is expected to reach a revenue of $189.1 Mn by 2030, growing at a CAGR of 32.1% from 2025 to 2030.