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
This startup leader is revealing entrepreneur answers (and they’re listed in the table of contents)
Aligning the stars as a forward-looking founder and business owner isn’t easy, Maria Flynn noted, so she wrote her own guidebook. “Entrepreneurs are my tribe of people,” said Flynn, a serial founder and regional digital health leader. “And I was telling the same stories over and over again, so I started to write them down.…
He earned industry cred alongside Ariana Grande; now Jo Blaq wants to share the music with emerging KC artists
Joseph Macklin forged a successful music career through trial and error, he said, but that doesn’t mean the next generation should be forced to endure those same challenges just to feel like they earned credibility. The multi-platinum, Grammy award-nominated music producer, songwriter, engineer, and vocal arranger — known as Jo Blaq — is on a…
Nation’s best dog bar planning new tricks in KC after fetching top award, summer funding round
The dog days of summer are bringing momentum to Bar K, said David Hensley. The Kansas City-based escape space for pets and their owners was recently named top dog in the country by USA Today, just closed a funding round, and added several key team members — including Tim Schoenfelder as CEO — the co-founder…
Let’s eat out: KCMO wants more outdoor dining; new grants program pays for restaurant upgrades
Outdoor dining’s economic impact outlasted the pandemic, said Mayor Quinton Lucas. A new push to boost KCMO businesses — with the backing of city tourism dollars — is expected to help local restaurants, coffee shops, and bars embrace the opportunity, he said. His goal: Make outdoor dining spaces even more attractive to visitors and hometown…