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Unbox Robotics raises $7 mn in funding from 3one4 Capital, others

Supply chain technology company Unbox Robotics on Wednesday said it has raised USD 7 million (about Rs 53 crore) in funding led by 3one4 Capital.

fundings | startups in India

Press Trust of India  |  New Delhi 

Unbox Robotics raises $7 mn in funding from 3one4 Capital, others

Supply chain technology company Unbox Robotics on Wednesday said it has raised USD 7 million (about Rs 53 crore) in funding led by 3one4 Capital.

The Series-A funding round also saw participation from Sixth Sense Ventures and Redstart Labs (Info Edge) and Unbox Robotics' founders Pramod Ghadge, Shahid Memon and its CPO Rohit Pitale, a statement said.

Existing investors - US-based venture capital firm SOSV, Arali Ventures, WEH Ventures, BEENEXT, Karthik Bhat's Force Ventures, Vijay Kedia (Kedia Securities), Aditya Singh (Stride Ventures) and Pavitar Singh (Sprinklr) as well as Rahul Chaudhary (Treebo Hotels), Nikhil Vora and Kathan Shah (Sixth Sense Ventures), and Veda VC also participated in the funding.

The funds raised will be mainly used to expand the team across functions, fulfil the customer demand internationally, R&D and expand to new geographies, it said.

The company said it has already onboarded some of the largest e-commerce and logistics enterprises as early adopters through trials/pilots and has filed IP for its technology in India, the US and the EU.

Unbox Robotics specialises in robotics-based fulfilment and distribution technology for small to large e-commerce, retail and logistics enterprises. Its high-speed robotics solutions are built to consolidate customers' orders in fulfilment centres and to sort them as per final delivery locations in distribution centres or delivery hubs.

We are obsessed with improving the ways packages are handled, distributed, and delivered to end customers. We believe that there's a massive potential for building and deploying robotics tech to deliver more packages using smaller footprints at lower operational costs as we see more adoption of e-commerce and Q-commerce (quick commerce) across the globe," Unbox Robotics CEO and co-founder Pramod Ghadge said.

He added that the company will deploy the funds to build an A-plus team to help customers experience the future of logistics, sorting and supply chains across continents.

Globally supply chain and logistics have been reshaped with the growth in e-commerce and D2C over the last decade. Every layer of the stack today requires incredible optimisation and automation to service the growing demand," 3one4 Capital Partner Anurag Ramdasan said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, December 22 2021. 13:27 IST