#India #Pune #Automation #Unbox Robotics #ICICI Venture

Unbox Robotics Raises $28 Million in Series B Funding

In a significant move for the robotics industry, Unbox Robotics announced that it has successfully completed a Series B funding round, securing $28 million (INR 243 crore). This funding was led by prominent investors including ICICI Venture and Redstart Labs (Infoedge), along with participation from co-investors such as F-Prime, 3one4 Capital, and Navam Capital. The injection of capital is expected to bolster the company's leadership and engineering teams, accelerate product development, and expand its market presence both in India and globally.

A Milestone for Unbox Robotics

This funding round marks a pivotal moment for Unbox Robotics as the company continues its journey towards revolutionizing warehousing and logistics through intelligent automation and robotics. Alongside this financial boost, the company has strategically created significant liquidity for its employees via an Employee Stock Ownership Plan (ESOP), further enhancing commitment and morale within the team.

Unbox Robotics specializes in designing and deploying modular robotic systems aimed at optimizing intralogistics. Their innovative platform integrates proprietary swarm intelligence software with 3D robotic sorting hardware, enabling large fleets of robots to coordinate dynamically. This allows enterprises to fulfill orders more rapidly and efficiently while utilizing minimal fixed infrastructure.

Expansion in Key Markets

The company has been rapidly building a clientele across various regions, including Europe, the United States, and India, supporting global e-commerce, retail, and third-party logistics operations. The backing from ICICI Venture not only signifies a strong validation of Unbox Robotics' technology but also highlights the growing interest in their solutions among customers globally. ICICI Venture's expertise in governance and its shared belief in the increasing role of automation in supply chains make them an ideal partner for Unbox Robotics as it enters its next phase of growth.

Pramod Ghadge, Co-Founder and CEO of Unbox Robotics, expressed enthusiasm regarding the funding, stating, "This financing is a significant step for Unbox Robotics. The continued support from our current investors and the addition of ICICI Venture as our lead investor enhance our ability to scale more rapidly. With a fivefold growth in revenue year-on-year, we are doubling down on product development in key global markets, driven by an increasing demand for warehouse automation."

Sharad Malpani, a director at ICICI Venture, also remarked on the partnership, emphasizing the company's strong execution, unique technology, and clear understanding of customer needs in logistics automation. He noted, "We believe Unbox Robotics is poised to play a pivotal role in establishing efficient and scalable warehouse operations in India and worldwide."

Vibhore Sharma, director of Redstart Labs, added his positive remarks on the company’s ability to translate technical innovations into successful commercialization. As Unbox Robotics transitions into its next growth phase, support from investors is crucial to facilitating continued advancements.

Sanjay Aggarwal, Venture Partner at F-Prime, reaffirmed the company’s position as a top contender in the Indian robotics sector, praising its innovative products and proven execution capabilities that deliver high ROI solutions to demanding clients across the globe.

The Future of Unbox Robotics

As Unbox Robotics moves forward, the focus on enhancing their operations will be essential in meeting the increasing global demand for automation solutions. With this substantial funding, the company is not just poised for growth in India but is also strategically aligned to capture market opportunities internationally. This funding round represents not just capital acquisition but a significant endorsement of the vision that Unbox Robotics holds for the future of supply chain automation.

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