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-based SouveNEAR vending machine startup prepping to scale up
SouveNEAR offers travelers a piece of KC — from KC, said co-founder Tiffany King. The Kansas City-based startup, which repurposes vending machines to sell locally made souvenirs, is in its fourth year of steady, organic growth, King said. As a member of ScaleUP! KC new class, SouveNEAR is preparing to grow the business and turn…
Google, Techstars partner to lower barriers for March 23-25 Startup Weekend
A new partnership with Google will allow Techstars to present this month’s Startup Weekend free of charge to Kansas City participants, said John Coler. “It opens up the opportunity to reduce the barrier for entry for those who either would not usually use their discretionary income or (do not) have the ability to pay for…
Food, IoT, blockchain and AgTech startups join 2018 Sprint Accelerator class
With its fifth cohort of early-stage firms, the Sprint Accelerator scoured the globe for a brood of ag, food and tech startups that aim to leverage area corporate partnerships. The Crossroads Arts District-based accelerator announced on Monday nine new startups that will participate in its 90-day, mentor-driven program. The accelerator pairs startups with wireless carrier…
Rockhurst’s Meet the Makers: Look beyond the cubicle walls
Don’t ignore magical timing within the entrepreneur community, said marketing manager-turned-children’s book author Audrey Masoner. “Kansas City is a place where anything can happen, and you really want to keep your eyes open for connections,” Masoner told a crowd gathered Wednesday for Rockhurst University’s Meet the Makers speaker series. “It’s small enough to be very…