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
Events Preview: BetaBlox Demo Day
There are a boatload of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter or curious Kansas Citian, we’d recommend these upcoming events for you. WEEKLY EVENT PREVIEW KCedu and Lean Lab Meetup When: June 16 @ 5:30 pm – 7:00 pm Where: EduHub Join us as KCedu and…
Startup life and marriage: A spouse’s perspective
Editor’s Note: Dan and Gina Schmidt agreed to share their experience of how startup life has changed their relationship and family. This is Gina’s perspective; see Dan’s here. Opinions expressed this commentary are the author’s alone. A little over six years ago, my husband, Dan, approached me with a business idea. “Emerging Business CFO. That’s…
New batch of techies, educators to revamp learning with Lean Lab
After recently announcing it would award $100,000 for education startups, the Lean Lab on Thursday unveiled the five entrepreneur teams that represent its third cohort. The non-profit for the first time opened its fellowship program to accept international teams, reaping it more than 50 applications — some from as far as Iran and Bulgaria, said…
The Nerdery launches hiring spree at KC office
Nerds abound in Kansas City. Or at least the Nerdery’s local expansion seems to indicate as much. The software design and development firm has added 14 staffers in the last 18 months and is now launching another hiring spree. The Minneapolis-based firm — which opened a Kansas City office in late 2014 — plans to…