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
Attention entrepreneurs: Deadline for LaunchKC grants approaching fast
Entrepreneurs in Kansas City and around the world have about one month left to apply for LaunchKC, a grant competition that hopes to boost the area’s growing tech sector. LaunchKC will distribute $500,000 — via 10, $50,000 non-dilutive grants — to tech entrepreneurs from around the globe in exchange for their relocation to Kansas City.…
With $300M under management, Blooom is the fastest-growing robo advisor
Area financial tech startup Blooom has another trophy for its chest of commendations. The Leawood-based firm says its online tool to grow users’ 401(k)s has reached $300 million in assets under management in only 20 months. That swelling growth makes it the fastest-growing robo advisor ever — years faster than competitors in New York City…
Area gamemaker Shoutz partners with Pitbull for mobile arcade
Area tech firm Shoutz Inc. has launched a mobile gaming subsidiary that’s working with celebrity recording artist Pitbull. Overland Park-based Shoutz Inc. recently announced the founding of GameRail, which partnered with Pitbull to offer a variety of casino-style games in both English and Spanish. The PitBull Arcade — which features the artist’s image — offers…
Regional Roundup: Chicago’s megamall turned innovation hub
In this week’s roundup of watercooler talk from the region’s startup hubs, we have the dish on Chicago’s booming startup density, Uber and Lyft’s Austin tantrum, and Denver’s No. 3 rank for digital economy readiness. Check out more in this series here. ChicagoInno: How the Merchandise Mart became the epicenter of Chicago tech How…