Unbox Robotics raises $1.2 mn funding
Unbox Robotics, a logistics automation startup, on Friday said it has raised $1.2 million (nearly Rs 9 crore) from BEENEXT, WEH Ventures and others.
image for illustrative purpose
New Delhi: Unbox Robotics, a logistics automation startup, on Friday said it has raised $1.2 million (nearly Rs 9 crore) from BEENEXT, WEH Ventures and others.
Karthik Bhat (through his syndicate on AngelList India), Redstart Labs (India), along with existing investors Arali Ventures, SOSV and HAX, Entrepreneur First and Marquee Angel investors also participated in the pre-series A round, a statement said.
The funds will primarily be used for scaling early client pilots, team expansion, and product improvements, it added. With retail and logistics companies increasingly looking to go the contactless route - especially on account of the pandemic - warehouse management has seen a significant shift in the last year. Unbox aims to address the complex challenges faced by retail and logistics players when it comes to warehouse management in a sustainable manner.
The company has built using a proprietary plug-and-play swarm robotics system that automates and improves package sorting as well as the order consolidation process while using optimum floor space and capital. Pramod Ghadge, CEO of Unbox Robotics, said with a massive surge in e-commerce, in the next three-five years, the logistics industry needs to handle about 2X the load they process today.
