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
Raven Space Systems lands Forbes 30 Under 30 honor, re-entering spotlight after funding news
One of Kansas City’s most promising startups of the year has seen its fortunes rocket to the skies over the past three weeks, capped by a high-profile honor in the national media: a spot on the coveted Forbes 30 Under 30 list. “Building Raven Space Systems has been a very challenging journey and I am…
Missouri lawmaker urges SBA change to ease access to federal funds for digital tools
Government red tape is getting in the way of entrepreneurs’ ability to compete, said Mark Alford, detailing his efforts in Washington, D.C. to ensure affordable, equitable access to and use of “digital technologies” — especially when the federal government is involved, he added. “Small businesses are the fabric of America, driving innovation and growth,” said…
Golftech startup raises $675K seed round, swinging for franchise expansion and commercial tech launch
A Lenexa-based tech company focused on accelerating skills for avid golfers hit a funding milestone this week, announcing a seed round meant to bridge the gap between on-course and off-course play through its innovative physical and digital solutions. Albatross Golf — which boasts two flagship offerings: GolfTRK and Noonan — on Tuesday shared news of…
Naughty or nice night for a drink: Your guide to Kansas City holiday bar getaways
The holiday spirit shows up in some unexpected places this year, with festively themed pop-up bars and nightlife experiences jingling through the season at nearly 30 Kansas City area businesses and venues — from the world’s loudest stadium to the smallest speakeasies. “The Gingerbread is our way of bringing extra holiday cheer to the heart…