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
Chef brings Urban concept back to Troost; $25K GIFT grant boosts fight against gentrification
Chef Justin Clark’s latest venture — an eatery that blends Asian and soul food influences — aims to not only blur the boundaries between menus, but break down dividing lines within and between communities. “The goal was to create familiar items that everyone actually can relate to as Americans, but then again, we add some…
How one small town Missouri entrepreneur built a professional video business in a town of 10,000
Editor’s note: The following story was produced through a paid partnership with MOSourceLink, which boasts a mission to help entrepreneurs and small businesses across the state of Missouri grow and succeed by providing free, easy access to the help they need — when they need it. HARRISONVILLE, Missouri — Byron Brooks received his first video camera…
Ruby Jean’s founder juices up STL small biz accelerator as entrepreneur in residence
Chris Goode is sharing the fruits of his business success as the Ruby Jean’s Juicery founder takes on the apron of “entrepreneur in residence” for a Missouri program aimed at supporting Black and Latinx small businesses in St. Louis. In his role with the WEPower All-Industry Accelerator, Goode will guide 10 small businesses through a…
Your neighbors have stories you’ve never heard; this podcast duo is giving them the mic
Kansas City natives Jose “JL” Leon Jr. and Daniel “D.Rod” Rodriguez are on a mission to create community — not controversy — with a podcast showcasing untold stories of underrepresented leaders and entrepreneurs — people who contribute to the fabric of Kansas City, but don’t always make headlines. “The more you get to know someone, the…