Emotix– Company Profile

A consumer electronics startup, Emotix is focused on developing advanced, interactive systems that are powered by Artificial Intelligence (AI), robotics and Internet of Things (IoT). The company was founded in 2014 and is headquartered in Mumbai. Emotix’s flagship product is Miko, which is India’s first companion robot. The Miko robot is meant for children above 5 years of age and it is designed to work as their perfect companion.

Miko has the ability to learn from its interactions with the child and develop an emotional bond with them. Miko has emerged as an effective educational and social development tool for children and it is also being preferred by many schools. It can answer questions, chat, set alarms and reminders, play games, and guide children in their day to day activities. Last year, Emotix was ranked second in the list of IBM Smart Camp for Deep Tech startups. The company has also received recognition at the India’s Best Design Award.

History:

The idea for Emotix came when the founders Sneh Vaswani, Prashant Iyengar and Chintan Raikar realized that the benefits of AI and robotics were still not available to households. While top businesses were benefitting immensely from AI and robotics, the technology was not available to the general populace. The founders also noticed that today’s children often don’t get emotional support, especially if both parents are working. This hampered their social growth and their emotional development. The founders were into robotics since their student days and had built many advanced machines during their career. In 2014, the founders decided to solve a societal problem, which eventually led to the launch of Emotix and India’s first companion robot Miko. The idea worked and now AI powered robots are a reality in many Indian households.

Funding:

Emotix has received funding through various sources. However, the exact amount of funding has not been disclosed yet. Investors include several serial entrepreneurs, thought leaders and senior academicians.

Acquisitions:

Emotix has not made any acquisitions till date, but is open to any bankable deals that may emerge in the future.

Competition:

Emotix has been a pioneer in making companion robots in India, and enjoys the perks that come with being a monopoly. However, competition may not be far away, since the demand for such robots is increasing and other companies may soon launch similar products in the Indian market.

About the Founders:

Emotix was founded by Sneh Vaswani, Prashant Iyengar and Chintan Raikar. All three are graduates from IIT Bombay and have extensive experience in the field of robotics and artificialintelligence. After spending some time in the corporate world, the trio decided to take the entrepreneurial plunge in 2014. Sneh Vaswani currently serves as the CEO of Emotix.