Mycroft AI inks $1.75M in oversubscribed round, battling Amazon, Google
January 12, 2018 | Bobby Burch
In a quiet room amid the chaos of the Consumer Electronics Show in Las Vegas, Mycroft AI CEO Josh Montgomery gleefully told Startland News Friday that his tech firm raised a significant seed round.
Mycroft recently raised a $1.75 million round that will help the Kansas City-based artificial intelligence startup accelerate hiring plans and corporate partnerships. The seed round exceeded the firm’s goal by more than $1 million, Montgomery said.
“It’s fantastic — it shows we’re in an exciting space and positions the company for huge success,” Montgomery said. “It’s exciting to be growing a company in Kansas City.”
Mycroft created an open-source voice assistant similar to Apple’s Siri, Microsoft’s Cortana or Amazon’s Alexa. The firm’s Mark I device — which raised $335,000 in a Kickstarter campaign — uses natural language processing technology to enable its everyday use in a consumer’s home.
A 2016 Sprint Accelerator grad, Mycroft AI will be deploying a smart speaker — the Mark II — via a Kickstarter campaign Jan. 25.
Among those joining in the seed round were the Missouri Technology Corporation, Kansas City-based Northland Angels, Deep Space Ventures, TechNexus and Social Starts, Montgomery said. The local support is meaningful to Mycroft, Montgomery said.
“It shows Kansas City has an up-and-coming startup scene,” Montgomery said. “There’s funding available for good ideas with solid execution.”
With an open-source, open-hardware approach, Mycroft allows users across the globe to develop software and hardware add-ons. Already working with Jaguar Land Rover, Mycroft aims to be a neutral integration for other corporations that view Google or Amazon as competition.
“Lots of companies want to deploy voice assistants but aren’t excited about sending their data to big tech,” Montgomery said. “This positions us for success with corporate engagements.”
Mycroft AI hopes to hire up to 40 staffers in 2018 to build out its software and business development teams, Montgomery said.
Mycroft AI was named a Startland Top Startup to Watch in 2017. To watch Montgomery in a full video interview with Techcrunch, check out the video below.
Featured Business
2018 Startups to Watch
stats here
Related Posts on Startland News
KCultivator Q&A: Tyler Enders talks his biggest failure, the ‘Made In’ concept and Obama
Seated amid vintage mosaic tile and striking black-and-white portraits by Kansas City photographer Cameron Gee, founder Tyler Enders seems at home within the walls of the Made in KC Cafe. He’s an art lover with a finance degree — not to mention one of the minds behind Made in KC, a retail showcase for local…
Kimberly Gandy: Proof a startup can emerge stronger from its founder’s cancer diagnosis
Cancer needn’t mean can’t, Kimberly Gandy said. When the Play-It Health founder and CEO was diagnosed with an aggressive, mid-stage cancer in May 2016, her startup found itself at a crossroads. Gandy had just joined the Kansas City-based Pipeline fellowship and her company was poised for growth through its web- and mobile-based health regimen tracking…
Code Ninjas uses karate format to punch into KC youth STEM scene
Students often want more than their schools can offer, said Jason Hansen, of Code Ninjas. For some, that’s competitive sports teams or specialty athletics, he said. Others yearn for greater STEM-based learning opportunities — like those offered at Hansen’s Leawood center. “It’s just like you might have a dance studio, or a baseball academy,” Hansen…
Landlocked, Marknology startups ‘killing it on Amazon,’ KC founder says
Landlocked is a brand many Kansas Citians recognize on sight, founder Andrew Morgans said. Marknology is the behind-the-scenes engine that sells it. While his dual companies — an apparel startup known for its popular hybrid pennant tee and a bootstrapped digital marketing firm specializing in Amazon sales — complement one another, the pairing is an…