Mumbai, NFAPost: Supply chain robotics startup Unbox Robotics raised $7 million (Rs 53 crore) in a series A round from 3one4 Capital, Sixth Sense Ventures, Redstart Labs (Info Edge) and others to expand its team and foray into new geographies.
“The funds will also be utilised to fulfil international customer demand and research and development (R&D),” said the city-based firm in a statement.
Among others who participated in the funding round are cofounders Pramod Ghadge, Shahid Memon and Rohit Pitale and present investors — US-based venture capital firm SOSV, Arali Ventures, WEH Ventures, Beenext, Karthik Bhat’s Force
Ventures, Vijay Kedia of Kedia Securities, Aditya Singh of Stride Ventures and
Pavitar Singh of Sprinklr.
Ghadge is the chief executive, Memon chief technology officer and Pitale chief product officer of the 10-month-old company. The AI-powered robotics firm provides package sorting solution for the multi-billion-dollar global logistics industry.
“Our solution enables ecommerce, retail and logistics enterprises to use our plug-and-play robotics, which are deployed in a week,” said the statement.
As some e-commerce and logistics firms have deployed its robotics to automate their operations, it has filed IP (Intellectual Property) for using the technology in India, the US and the European Union (EU).
“Our robotics solutions consolidate customers’ orders in fulfilment centres and sort them for delivery locations in distribution centres or hubs in quick time,” said the company.
Unbox’s proprietary Swarm robotics reduce deployment time at locations of its users to less than a week.
“Our technology has ability to scan, sort and dispatch packages in 50-70 per cent space, which improves productivity by 3x and reduce operational cost by 60 per cent to sustain warehouse management,” said the statement.
The system allows users to automate bigger facilities as well as micro-hubs through vertical sorting mechanism.
“Our robotics improves the ways packages are handled, distributed, and delivered to end customers. We believe there’s a huge potential to deploy our technology to deliver more packages in less space at lower operational costs,” said Ghadge on the occasion.
The company had won the India Innovation Growth Programme 2.0 of the central government, Lockheed Martin and Tata Trusts. The Royal Academy of Engineering in the UK awarded it the Leaders in Innovation Programme./eom/370 words.
