Ikin Global Raises $1 Mn

IoT smart lock brand Ikin Global has raised $1 million (about Rs 8 crore) in a funding round from Unicorn India Ventures and Callapina Capital. It plans to deploy the capital for enhancing the current product line with new launches that would offer AI-powered analytics, advanced sensor technology and industry-specific solutions. It will also expand its team presence in major markets such as India, the US and Europe, and aims to strengthen its sales, marketing, operations, and support divisions, a company statement said. Additionally, the company plans to boost its production capacity to align with the increasing demand from the logistics industry.