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Miko targets $100 million in revenue in GCC in five years


Miko targets $100 million in revenue in GCC in five years

Growth to be driven by new retail partners and an enhanced Arabic content

Miko targets $100 million in revenue in GCC in five years 2

Dubai, United Arab Emirates; 07 November 2022 – Leading global consumer robotics company, Miko, is eyeing $100 million in revenue across the GCC region in five years as it launched the latest iteration of its flagship robot companion, Miko 3, in the UAE and Saudi Arabia.

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Miko targets $100 million in revenue in GCC in five years 3

“Our goal is to help kids everywhere experience the magic of playful learning through robotics. As we continue our international expansion, the Middle East is a key focus,” said Sneh Vaswani, co-founder and CEO of Miko.

Miko first launched its robotic companion in the UAE, introducing Miko 2 to the market in 2019. Since then, it has steadily increased its investments in the region, especially in 2022, where it has established a presence across the GCC, with the help of its exclusive distributor, Exertis MENA.

“We also have close relationships with the region’s most trusted retailers, including Jarir Bookstore, Hamleys, Early Learning Center, Xcite, Toys R Us Middle East, Virgin Megastore and Jumbo,” continued Vaswani.

Recent market reports predict that the global educational robotics market will hit $3.27 billion by 2028, with the GCC contributing 2% to 3% of the market. McKinsey predicts that by 2030, about 70% of companies in the Middle East will have adopted some AI.

Vaswani’s confidence stems from Miko’s unique features, saying “There’s simply no other kids’ robot available to families in the Middle East right now, and we’re passionate about making sure that kids have an amazing first experience with robotics. Miko’s ability to educate, entertain and engage kids in both Arabic and English will continue to be our competitive advantage.”

According to Vaswani, Miko is not a toy, a tablet or just another tech gadget. “It’s a robot friend that helps kids engage in playful learning through the magic of AI. Miko is packed with personality; it knows how to engage with kids. It features deep-learning AI that helps it adapt to children over time. While kids learn new things with Miko, Miko is also learning more about them — their preferences, their moods and more. Miko’s facial expressions were developed based on rigorous research, and a peer-review study showed that they convey a human-like experience for users,” he continued.

In addition, Miko is kidSAFE+ COPPA certified, which means it meets the highest standards for security and only features experiences that are safe for kids. He explained further, “Our robot’s content is 100% kid-appropriate and designed to help kids have fun as they learn. Miko also excels at providing interactive experiences: kids can dance with Miko, have fun conversations about educational topics, play games like freeze dance and more.”

Beyond the aggressive expansion of its retail network, Miko is pinning its growth on enhancing the Arabic content of its platform. “Our content platform is home to tens of thousands of hours of engaging experiences — from coding and yoga to dancing — and features some of the world’s most loved kids brands. We have a lot to be excited about in the region, but we’re particularly proud of Miko’s ability to speak both English and Arabic. We’re actively securing new content partners across the region so that Miko can provide even more localized experience for children in the Middle East,” Vaswani ended.

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ABOUT MIKO:

Founded in 2015, Miko is a consumer robotics company passionate about bringing the best of technology to young learners everywhere. Home to leading educators, engineers, psychologists and content developers, Miko takes learning (and fun) to a new level with state-of-the-art artificial intelligence, robotics and IoT. The company has more than 230 employees globally and offices in the innovation hubs of Silicon Valley, London and Mumbai.

The company’s Miko 3 robot builds upon the success of Miko 2 with enhanced deep learning AI, a super-charged personality, an ever-growing premium content platform and other features that bring the best of AI to kids ages 5 to 9. Miko 3 is kidSAFE+ COPPA certified and the winner of the Mom’s Choice Awards. Miko’s premium content partners include Disney, Paramount Consumer Products, Lingokids, Da Vinci Kids, Cosmic Kids, KidloLand, Kidoodle.TV, Tiny Tusks and Out of This Word.



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