Miko, a company that makes companion robots for kids, is about to close a $155 million Series D funding round led by AMDG-PAX Foundation, a US-based firm. Regulatory filings show this deal values Miko at $550 million, a 2.7X increase from its last round. This positions Miko as one of India’s fastest-growing direct-to-consumer (D2C) brands.
Miko, operating as RN Chidakashi Technologies Private Limited, uses a D2C model that combines hardware, software, and subscription services. Their AI robots, Miko Mini and Miko 3, cost between Rs 15,000 and Rs 25,000. They also offer Miko Max, a subscription product aimed at driving repeat revenue. The company says it has a presence in over 140 countries, including the US, Europe, and the Middle East.
The new funding will support operations, new D2C product launches, and overall growth. AMDG-PAX Foundation is expected to own about 28% of the company after the investment. Miko has already raised over $75 million, including a $29 million Series B led by IvyCap Ventures.
Miko’s revenue grew by 58% to Rs 358 crore in FY24, up from Rs 225 crore in FY23. While losses were at Rs 120 crore in FY24, the company’s growth shows a trend in the Indian D2C market: businesses are prioritizing global expansion, product innovation, and customer loyalty over short-term profits.
Miko faces competition from companies like PlayShifu, Avishkaar, and WitBlox. But its positioning as a high-end D2C brand with a global customer base sets it apart. Robotics and AI in education and entertainment are becoming popular categories in the D2C space.
Miko’s success shows that India can develop consumer tech products that compete globally while maintaining a strong presence at home. The company’s focus on innovation shows a shift in the D2C market, where Indian startups are now setting global standards.
Miko’s growth highlights how product-focused startups can grow with both investment and customer trust. In a market with many celebrity-backed brands, Miko’s success proves that businesses driven by innovation can create lasting value. With this funding, Miko is solidifying its position as a top D2C brand and changing the future of D2C in India.
