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
Missouri job growth among the best in the U.S.
Missouri job growth among the best in the U.S. In 2016, the Show Me State gained 57,100 jobs — a figure that topped all 8 of Missouri’s neighboring states. In addition to job growth, Missouri’s unemployment rate decreased .4 percent during the past month, according to a recent report by the U.S. Bureau of Labor…
‘Nerds’ want to retool Kansas City nonprofits’ websites
‘Tis the season to help your fellow man — and their website. That seems to be the driving force behind a volunteer-led program to improve the digital presence of several Kansas City nonprofits. The Nerdery and its foundation will host the Overnight Website Challenge, which over the years has tapped hundreds of volunteers to complete…
Chris Brown: How to split equity in your startup
Editor’s note: Opinions expressed in this commentary are the author’s alone. This article is general in nature and does not constitute legal advice. Readers with legal questions should consult an attorney. When founding a new startup it is common to have disagreements over how much equity each founder should receive. In this post, we will…
Sustainable apartments in KC’s River Market will be among the world’s largest ‘passive houses’
The future of sustainable real estate development may be taking shape in Kansas City. The $60 million, 276-unit Second and Delaware project aims to not only be one of most environmentally conscious residential buildings but also a global example in sustainable housing, said Jonathan Arnold, CEO of Arnold Development Group. The Arnold Development Group along…