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IIM-A incubation centre leads Rs 3.7 crore funding for robotics logistics

According to founders Pramod Ghadge and Shahid Memon, this new-generation sorting solution can be installed within two weeks

Vinay Umarji  |  Ahmedabad 

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Apart from CIIE.CO and Arali, existing investors EF and SOSV participated in the funding round, as did angel investors Vijay Kedia and Rajesh Sawhney, among others.

CIIE.CO, the innovation incubator entity at the Indian Institute of Management (IIM) here, and venture capital firm Arali Ventures have led a $500,000 (Rs 3.7 crore) round of funding for logistics start-up Unbox

Powered by Swarm Intelligence, the startup says it is building flexible parcel sorting solutions for logistics providers that can control a fleet of robots for the purpose.

According to founders Pramod Ghadge and Shahid Memon, this new-generation sorting solution can be installed within two weeks and requires less than half the space at currently available sorting systems.

Apart from CIIE.CO and Arali, existing investors EF and SOSV participated in the funding round, as did angel investors Vijay Kedia and Rajesh Sawhney, among others.

First Published: Wed, March 11 2020. 23:12 IST
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