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

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

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.

“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.

Trusted retailers

“We also have close relationships with the region’s most trusted retailers, including Jarir Bookstore, Hamleys, Early Learning Centre, 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,