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
KC Futures DAO aims to launch Kansas City’s first blockchain-driven innovation magnet
As the US races to catch up to Europe, Asia and the developing world with regard to crypto, blockchain and Web3 tech, can the careful creation of talent-attracting digital hubs help close the distance? Today’s global economy — and its hyper-competitive talent market — rightly sees rapidly advancing technology as a relentless force, said Troy Carlson,…
New summer pitch competition builds on KCMO capital programs’ early success; applications open now
A new pitch competition is expected to give impactful small businesses and startups an opportunity to gain broader exposure and win cash prizes as the city’s KC BizCare Office expands capital programs supporting entrepreneurs in Kansas City, Missouri. In late July, five selected business leaders are set to pitch their ideas to about 50 judges,…
Vytelle’s next expansion: A third IVF lab in Australia as startup scales reproductive solutions for beef, dairy farmers
A Lenexa-based agtech company’s 21st lab space is planned for Melbourne, Australia, as the global leader in bovine in vitro fertilization works to revolutionize the industry and give farmers unparalleled access to hormone-free IVF. The state-of-the-art facility — set to open later this year — will be Vytelle’s third lab in Australia following the opening…
‘Well, S***’ sign-maker and ‘native Cole Camp girl’ revitalizes rural downtown’s small business scene
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. COLE CAMP, Missouri — What started as a side…