#India #Pune #Unbox Robotics #ICICI Venture #Supply Chain Tech

Unbox Robotics Secures $28 Million in Series B Funding

In a significant milestone, Unbox Robotics, a frontrunner in robotic technology for supply chain solutions, has successfully raised $28 million in a Series B funding round. This funding was largely led by ICICI Venture, along with the participation of Redstart Labs (Infoedge) and other co-investors including F-Prime, 3one4 Capital, and Force Ventures. The proceeds from this fundraising initiative will primarily be directed toward strengthening leadership and engineering teams, accelerating product development, and expanding their market presence both in India and internationally.

Strategic Growth Goals

The funds will also enable Unbox Robotics to enhance its employee liquidity through an Employee Stock Ownership Plan (ESOP) included in this transaction. This focus on employee benefits underlines the company’s commitment to workforce engagement while stimulating growth.

Neil Pitale, Chief Growth Product Officer, emphasized the significance of this funding: “This financing represents a pivotal step for Unbox Robotics as we endeavor to revolutionize warehouse and logistics operations through intelligent robotics and automation.”

Founded with the vision of transforming intralogistics through smart automation, Unbox Robotics specializes in designing and implementing modular robotic systems. These systems enable faster, scalable, and more efficient order processing for businesses. Leveraging its proprietary swarm intelligence software and modular 3D robotic sorting hardware, Unbox Robotics allows fleets of robots to synchronize dynamically while maintaining minimal fixed infrastructure.

Growing Global Footprint

The company is making considerable inroads into markets across Europe, the United States, and India, supporting large-scale e-commerce operators, retail, and logistics sectors. The backing from ICICI Venture marks a robust endorsement of the technology, customer traction, and long-term vision of Unbox Robotics. ICICI Venture brings extensive institutional expertise, robust governance capabilities, and a shared belief in the potential of automation to achieve scalable and efficient supply chains, reinforcing its role as an ideal partner in Unbox’s growth trajectory.

Pramod Ghadge, Co-Founder and CEO, stated: “This funding is a landmark for Unbox Robotics. The sustained support from our current investors, coupled with ICICI Venture stepping in as our key investor, empowers us to accelerate our scaling efforts. With year-on-year growth and profitability surging over five times, we are intensifying our focus on expanding our offerings in key global markets.”

Sharad Malpani, Director at ICICI Venture, remarked: “We are thrilled to partner with Unbox Robotics during this critical growth phase. The company has showcased solid execution, distinct technology, and clear insights into customer needs within the logistics automation landscape.”

Similarly, Vibhore Sharma from Redstart Labs expressed confidence in Unbox Robotics, indicating that they are well-equipped to transform technical innovation into substantial market presence.

Responding to Market Demand

The venture capital input came as a response to the rising demand for robust automation solutions in warehouses, with some of the most challenging global customers responding positively to Unbox Robotics’ innovative products. Sanjay Aggarwal from F-Prime noted their commitment to collaborate closely with Unbox Robotics as they venture into their next stage of growth.

In conclusion, the successful closure of this funding round is not just a financial boost for Unbox Robotics but also a testament to its technological innovation, market understanding, and the promising future it envisions in revolutionizing logistics through automation. As the demand for warehouse automation continues to escalate, Unbox Robotics is poised to emerge as a leader in this vital sector.