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
Freelance Exchange plans expo for gig-economy creators, panel on hiring solopreneurs
An expo this week in Johnson County will put the work of freelance creators on display, as well as offer insight into the minds of Kansas City solopreneurs, said Cami Travis-Groves. The FX Portfolio Showcase — set for 10:30 a.m. to 2 p.m. Friday at the Johnson County Arts & Heritage Center — is expected to…
Movista exit: Mid-America Angels portfolio firm scores $12M growth equity investment
A $12 million Series A growth equity investment in Movista is a significant win for Mid-America Angels, as well as for the region, said Laura McCoolidge. The Arkansas-based startup — which uses a mobile-first, real-time platform to power labor and workforce management software for retailers, manufacturers, and service providers — is among the leading portfolio…
Startup Crawl returning Oct 5 for First Friday with festival-style entertainment, innovation
Editor’s note: Startup Crawl and Startland News are both programs of the Kansas City Startup Foundation, though the content below was produced independently by Startland. Startup Crawl has a carnival feel to it, said Lauren Conaway, noting the returning event is positioned to help startups collide with people who wouldn’t typically encounter the early-stage businesses.…
MECA students to Goodwill: Everyone has a mission now — what else are you selling?
Editor’s note: MECA Challenge and Startland News are both programs of the Kansas City Startup Foundation, though the content below was produced independently by Startland. For more information on the relationship, click here. Goodwill must innovate and change with the times if it’s going to survive after 125 years in business, said Ed Lada. “The…