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
Grab your Zhoug sauce: Lawrence-built eatery launching brand across KC (starting with this famous food spot)
Shuttered for three years, the former d’Bronx pizzeria space — the now-defunct hometown brand’s original location along 39th Street’s famed “Restaurant Row” — is reopening Wednesday with a fresh look and flavors from the other side of the globe (via a Kansas college town). Zhoug Mediterranean is expected to debut its fare at 3904 Bell…
Homegrown startups can redefine KC, leader says; they just need help surviving long enough to do it
Editor’s note: The following is the third in a four-part series exploring the verticals and impact of initiatives within the Economic Development Corporation of Kansas City through a paid partnership with EDCKC. Leave KC better than you found it: How matching growth to city’s needs is paying off Wrong tool can wreck a neighborhood; Precision development…
This AI scans for auto damage in 30 seconds; Here’s how it’s gaining instant trust, KC tech industry veteran says
A growing number of automotive-sales and related businesses are turning to Click-Ins, an AI-assisted startup on a rapidly upward trajectory, to solve a long-standing problem: how to inspect vehicles quickly, accurately and consistently without relying solely on human judgment. But the value isn’t in replacing humans in the workforce, said Josh Parsons, a 20-year auto…
Power moves: Electric vehicle infrastructure stalled in Kansas where liquid fuels still dominate
Editor’s note: This article was written for a class at the University of Kansas’ William Allen White School of Journalism and Mass Communications and distributed through the Kansas Press Association. The number of people buying electric vehicles in Kansas is steadily growing, and as the number increases, the need for accommodation will be balanced with…