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 housing tech startup builds momentum, refines business model in Nashville accelerator
As Shapree’ Marshall prepares her final pitch for Twendé 2024’s demo day in June, the Kansas City founder and Pipeline Pathfinder already is seeing results from the six-month Nashville-based program. Her startup, A Traveled Path Homes, was among 56 companies led by founders of color that were named to the Twendé cohort in January. The…
Mid Coast Modern closing Westport shop, relocating Bear Soap brand to west coast
After nearly a decade as a local retail staple, Mid Coast Modern is closing, founder Matt Bramlette confirmed. The Westport Road gift shop — which opened in 2015 and supports makers/artists and indie businesses — is expected to shut its doors at the end of the month. Sales have declined since the pandemic — especially…
NMotion accelerates Its 100th startup with plans to invest $3 million in 30 more through 2026
OMAHA — A Kansas City startup was among the six cohort members that pushed the NMotion Accelerator past its 100-company mark, showcasing its AI-infused storytelling platform this week alongside innovations from across the Midwest. NMotion powered by gener8tor on Tuesday celebrated the cohort — along with the impact from its $100,000 investments in each member —…
Jazz musician opens sell-out BBQ spot; here’s how he’s spicing up KC’s chorus of flavors
Even with more than 90 barbecue restaurants across the metro, Gerald Dunn still figured there was room for his flavor profile on the Kansas City food scene. But before opening Dunn Deal BBQ in Grandview, he made a pilgrimage of sorts, stopping in to see legendary Ollie Gates. He reveres the local barbecue pioneer and…