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
Behavioral health startup announces acquisition, name change
Behavioral health tech firm ABPathfinder is blazing a new path thanks to a recent acquisition. In addition to a name change, the Overland Park-based firm announced Thursday that it purchased Phoenix-based Ensure Billing to beef up the company’s services. The new entity has rebranded to become Pathfinder Health Innovations. Acquiring an insurance billing company allows…
New $20M fund supercharges VC dollars in Kansas City
In conjunction with a metro-wide effort to boost the area economy, Kansas City will soon have a new co-investment fund that aims to accelerate early-stage businesses. As part of the KC Rising economic initiative, the “KC Rise Fund” hopes to improve a common gripe in Kansas City’s entrepreneurial community that there’s not enough capital to…
Cut the crap: How to discern worthwhile advice
In my early days as an entrepreneur, I ran into a lot of consultants who claimed to be “experts” and guaranteed they could help me out. Then I’d do some fact-checking and discover they were neither reliable nor experts, and their advice wasn’t worth the space in our email inboxes. In the last few years,…
Kansas City again named top tech locale for ladies
Kansas City received more kudos for gender equality, this time for being a top spot for women in tech. A study released Wednesday puts Kansas City in second place among the nation’s 58 most-populated cities. The news arrives on the heels of Kansas City being named as a top-10 U.S city for women-owned businesses. SmartAsset…