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
Sprint Accelerator Demo Day preview (part I)
The second class of the Sprint Mobile Health Accelerator is gearing up for its much-anticipated Demo Day, which serves as a culminating event and is expected to draw a crowd of nearly 2,000 people. Led by Boulder-based Techstars, the Kansas City-based accelerator is now hosting 10 mobile health tech startups from around the world for…
Mayor Sly James helps startup 1 Minute Candidate build, win competition
Kansas City Mayor Sly James stepped up this Sunday to help a team of entrepreneurs win a competition in which they built a business in 54 hours. James, a well-known cheerleader of Kansas City’s startup community, helped political-tech startup 1 Minute Candidate launch its platform at Startup Weekend Kansas City, a event in which entrepreneurial-hopefuls…
Local weight lifting tech firm Rack Performance lands $250K
A Lenexa-based tech company is racking up investment capital to further develop its weight room management software. Rack Performance recently raised $250,000 from local, private investors that will help the company advance the second version of its software. Rack Performance built a web-based, weight room and group fitness platform to help coaches and trainers efficiently…
FitBark wags its way into nationwide retailer
Animal tech company FitBark is now selling its dog activity-tracking device in Target stores nationwide. The deal will place its product in front of millions of consumers each year at Target’s nearly 1,800 U.S. locations. FitBark’s animal tracking device will be featured among Target’s new “Connected-Life” section, which features other Internet-enabled products such as wireless…