New Delhi, Apr 23 (PTI) Unbox Robotics, a logistics automation startup, on Friday said it has raised USD 1.2 million (nearly Rs 9 crore) from BEENEXT, WEH Ventures and others.
Karthik Bhat (through his syndicate on AngelList India), Redstart Labs (India), along with existing investors Arali Ventures, SOSV and HAX, Entrepreneur First and Marquee Angel investors also participated in the pre-series A round, a statement said.
The funds will primarily be used for scaling early client pilots, team expansion, and product improvements, it added.
With retail and logistics companies increasingly looking to go the contactless route - especially on account of the pandemic - warehouse management has seen a significant shift in the last year.
Unbox aims to address the complex challenges faced by retail and logistics players when it comes to warehouse management in a sustainable manner.
The company has built using a proprietary plug-and-play swarm robotics system that automates and improves package sorting as well as the order consolidation process while using optimum floor space and capital.
Pramod Ghadge, CEO of Unbox Robotics, said with a massive surge in e-commerce, in the next three-five years, the logistics industry needs to handle about 2X the load they process today.
'Additionally, with such increased demand, companies need more warehousing space, typically three times higher for online retailers than brick and mortar players. In such a situation, the industry needs flexible, compact, and on-demand sorting systems,' he added.
Ghadge noted that existing sorting systems are difficult to scale up or down, require huge area, money and installation time.
'Having seen these problems first hand, we decided to build a plug and play swarm robotics system that can improve the package sorting productivity while saving the area by 50-70 per cent compared to existing sorting systems.
“Currently, we are closely working with six e-commerce and logistics enterprises in India, Southeast Asia, and the US to deploy our solution in the next 12 months and earn seven-figure revenue figures,” he said. PTI SR ANS ANS