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
No cookie-cutter way to create an entrepreneur, so what’s the catalyst? Inside KU’s venture test lab
Editor’s note: The University of Kansas’ School of Business is a partner of Startland News. It’s a practical testing ground for KU students to flex their entrepreneurial muscles, Ryan Rains said, describing a business program built for could-be entrepreneurs who aren’t necessarily even business majors — and who, ultimately, might choose to abandon their concept…
Enactus USA turns 50 in KC as local leaders urge: Give your network to an entrepreneur
A three-day expo featuring student-led innovation and entrepreneurship from across the nation found its home (and groove) “in the heart of the USA” this week, said Mikena Manspeaker, noting the campus of UMKC was the perfect fit for marking the 50th anniversary of Enactus United States. “Kansas City is just booming with entrepreneurial spirit and…
Streetwear-infused runway show hits 10 year-mark, building fashion family along the way
High fashion met heartfelt passion on the runway Sunday with the return of the The Kritiq Fashion Show — a celebration of creativity, entrepreneurship and community spirit that not even a global pandemic (or family pressures) could undress. “This is our 10th year,” said Mark Launiu, co-founder of The Kritiq, as well as the Kansas…
Goodwill’s ‘adult high school’ in KC just scored major funding wins (and hired its first leader)
A first-of-its kind adult high school in the region hit two big funding milestones this month, said organizers of the Excel Center, announcing six-figure financial contributions from the City of Kansas City, Missouri, and the Ewing Marion Kauffman Foundation, as well as a key hire. Led by Goodwill of Western Missouri and Eastern Kansas (MoKan…