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
Led by a ‘give first’ ethos, Techstars becomes a B-Corp
When your company mantra is “give first,” it’s bound have a philanthropic focus. And that ideology seems to have driven Techstars’ recent move to become a certified “B Corporation,” entailing the investment and accelerator group adhere to strict standards of social and environmental performance, accountability and transparency. A “B Corp” — or benefit corporation —…
Venture for America launches in KC to help startups find talent
A national fellowship program that helps recent graduates launch careers in entrepreneurship announced an expansion into Kansas City. With a mission to revitalize American cities, Venture for America partners with startups, business leaders and foundations to connect young talent with early-stage companies. In addition to the opportunity to work hands on with startups, The New…
Events Preview: Digital inclusion, term sheets
There are a plethora of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious community member — we recommend these upcoming events for you. Weekly Events Preview Smart Companies to Watch When: Dec. 7, 5:30 p.m. – 7:30 p.m. Where: The Downtown Marriott Thinking Bigger is…
Smart road startup Integrated Roadways launching IoT test lab with MoDOT
The Missouri Department of Transportation is looking to Kansas City-based Integrated Roadways for its tech and Internet of Things insight. As part of a 15-year agreement, the firm will serve as the department’s “IoT broker” and will build and operate a testing lab that will enable Missouri to explore the top mobile-Internet innovations, Integrated Roadways…