diff --git a/mbed/mbed.py b/mbed/mbed.py
index ca56971b..ec081b78 100755
--- a/mbed/mbed.py
+++ b/mbed/mbed.py
@@ -51,7 +51,7 @@
 
 
 # Application version
-ver = '1.8.0'
+ver = '1.8.1'
 
 # Default paths to Mercurial and Git
 hg_cmd = 'hg'
diff --git a/setup.py b/setup.py
index cbf963ab..4a63583e 100644
--- a/setup.py
+++ b/setup.py
@@ -18,7 +18,7 @@
 
 setup(
     name="mbed-cli",
-    version="1.8.0",
+    version="1.8.1",
     description="Arm Mbed command line tool for repositories version control, publishing and updating code from remotely hosted repositories (GitHub, GitLab and mbed.com), and invoking Mbed OS own build system and export functions, among other operations",
     long_description=long_description,
     long_description_content_type="text/markdown",