Unbox Robotics Raises $7 Million Series A Round

- Advertisement -

The company plans to use funds raised to expand the team across functions, fulfil the customer demand internationally, R & D and expand to new geographies

Unbox Robotics, a supply chain robotics technology company, raised $7 million in a Series-A round led by 3one4 Capital with participation from Sixth Sense Ventures and Redstart Labs (Info Edge). The round also saw participation from Unbox Robotics’ founders Pramod Ghadge, Shahid Memon and its CPO Rohit Pitale, alongside its existing investors – US-based venture capital firm SOSV, Arali Ventures, WEH Ventures, BEENEXT, Karthik Bhat’s Force Ventures, Dr Vijay Kedia (Kedia Securities), Aditya Singh (Stride Ventures) and Pavitar Singh (Sprinklr). Other investors who participated in the round include Rahul Chaudhary (Treebo Hotels), Nikhil Vora and Kathan Shah (Sixth Sense Ventures), and Veda VC.

“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. Since we launched our beta pilots with leading third-party logistics and e-commerce players in April 2021, we have already got orders from some of the leading e-commerce logistics companies. We are on our way to converting every other pilot or demo into a commercial contract. We will deploy the funds to build an A+ team to help our customers experience the future of logistics, sorting and supply chain across continents,” Pramod Ghadge, CEO and Co-Founder of Unbox Robotics.

- Advertisement -

The company plans to use funds raised to expand the team across functions, fulfil the customer demand internationally, R & D and expand to new geographies. The company 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.

Speaking on the investment, Anurag Ramdasan, Partner, 3one4 Capital, said, “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 today to service the growing demand. Unbox Robotics is doing amazing work in identifying and solving these high-value problems and the team built by Pramod, Shahid and Rohit bring deep domain expertise to tackle this problem at scale. We are highly excited to start this journey with them as they streamline logistics and redefine the space.”

Nikhil Vora, Founder and CEO of Sixth Sense Ventures, commented, “We believe the e-commerce and D2C boom is creating a large need for automation solutions within warehouses and FCs, with the industry slated to grow to $32 billion over the next 2-3 years. This coupled with evolving consumer expectations, labour shortage, omnichannel distribution, and technology accessibility has made robotics a priority for both e-commerce and fulfilment companies. Unbox’s compact, vertical, and modular system is well suited for current market needs. Excited to partner with Pramod and Shahid, who bring deep and relevant industry experience as we scale the company together.”

The logistics industry is expecting to handle more than 2X the number of shipments in the next 5 years, while the logistics automation market is expected to reach more than $100 billion by 2026. There’s a massive opportunity to serve customers within the urban clusters using the smallest footprint of warehousing facilities possible and cater to customers in tier-2 & 3 cities with same-day deliveries. The market growth is fuelled by exponential growth in e-commerce and the focus on efficient warehousing operations.

- Advertisement -

Most Popular Articles

Mukul Yudhveer Singh
Mukul Yudhveer Singh
Mukul Yudhveer Singh is an Editor at EFY. He’s an experienced business journalist who is both an enthusiast and a cynic of technology. Believes in data, as well as hunch-based journalism. He defines journalism as- reporting facts which help the audience take their own decisions, not ones that influence them!

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Union Budget 2024-25: What Can The Electronics Sector Expect?

0
Focusing on localisation in the electronics ecosystem, the first Union Budget post-elections has revamped customs duties on raw materials and equipment, extending support for...

“ST SiC Optimises The Performance Of EV Applications”

0
STMicroelectronics plans to introduce Silicon Carbide (SiC) and Gallium Nitride (GaN) for the electric vehicle ecosystem in India. In an interview with Francesco Muggeri...

Electric Construction Machines Forecast $126 Billion Market Growth

0
IDTechEx's report on electric construction machines aims to boost industry growth, forecasting a US$126 billion market by 2044 with ongoing advancements in technologies and...

Buzz

Budget 2024 Benefits EV And Auto Component Manufacturers

0
Budget 2024 includes a Rs 100 crore no-collateral credit guarantee, an increase in Mudra loans from Rs 10 lakh to Rs 20 lakh, and...

Budget 2024-25: Mission To Enhance EV Battery Production

0
Lithium, copper, cobalt, and nickel, essential minerals for e-mobility and renewable energy, are not subject to customs duty. Finance Minister Nirmala Sitharaman announced the establishment...

Tata Elxsi Partners With Wind River For Software-Defined Vehicles

0
This partnership between Tata Elxsi and Wind River boosts productivity and efficiency in software workflows by utilizing scalable cloud resources to advance software-defined vehicle...

Important Sectors

Budget 2024 Benefits EV And Auto Component Manufacturers

0
Budget 2024 includes a Rs 100 crore no-collateral credit guarantee, an increase in Mudra loans from Rs 10 lakh to Rs 20 lakh, and...

Budget 2024-25: Mission To Enhance EV Battery Production

0
Lithium, copper, cobalt, and nickel, essential minerals for e-mobility and renewable energy, are not subject to customs duty. Finance Minister Nirmala Sitharaman announced the establishment...

Tata Elxsi Partners With Wind River For Software-Defined Vehicles

0
This partnership between Tata Elxsi and Wind River boosts productivity and efficiency in software workflows by utilizing scalable cloud resources to advance software-defined vehicle...

Budget Leaves EV Sector Hanging, FAME III Pending

0
A source familiar with the matter mentioned that the third edition of the FAME scheme is currently being developed, though it has yet to...

Bosch To Acquire Johnson Controls, Hitachi’s HVAC Unit For $8B

0
The deal encompasses 16 manufacturing facilities and 12 engineering sites across over 30 countries. Bosch intends to acquire the global HVAC solutions business for residential...

Manufacturing

Budget 2024 Benefits EV And Auto Component Manufacturers

0
Budget 2024 includes a Rs 100 crore no-collateral credit guarantee, an increase in Mudra loans from Rs 10 lakh to Rs 20 lakh, and...

Budget 2024-25: Mission To Enhance EV Battery Production

0
Lithium, copper, cobalt, and nickel, essential minerals for e-mobility and renewable energy, are not subject to customs duty. Finance Minister Nirmala Sitharaman announced the establishment...

Union Budget 2024-25: What Can The Electronics Sector Expect?

0
Focusing on localisation in the electronics ecosystem, the first Union Budget post-elections has revamped customs duties on raw materials and equipment, extending support for...

India’s Roadmap To Becoming A Global Leader In Electronic Manufacturing: Policies, Progress, And Prospects

0
India's electronic manufacturing sector is poised for significant growth in the coming years, driven by ambitious government initiatives and strategic economic policies. Currently employing...
Mother-board-electronic-components

MeitY Announces $350 Billion PLI Plan To Boost Electronics Sub-Assemblies

0
MeitY announces allocation of $350 billion for a new PLI scheme, aiming to make India a global hub for electronics components and boost exports...