Bengaluru-based warehouse robotics startup Accio Robotics has secured $1.8 Mn (around INR 15 Cr) as a part of its Pre-Series A funding round co-led by BIG Capital, Unisync Angels and Daniel Fitzgerald.
The round also saw participation from existing backers including Roots Ventures, and Impaqt Robotics’ founder Anuj Bihani, among others.
Accio plans to use the fresh proceeds to ramp up its technology and product team, build channels for international growth and deploy more robots.
Founded by Pranav Srinivasan and Tuhin Sharma, Accio Robotics offers warehouse automation solutions and claims to have developed a robotics system that is set to transform how businesses manage order picking in their warehouses.
The startup aims to officially launch and showcase its products globally next month, it said in a statement.
Talking to Inc42, the founders, Srinivasan and Sharma, said, “We have identified that there are gaps in certain processes within the warehouse, especially in order picking which is a very time-consuming and cost-intensive process. So we are looking to automate that process using robots.”
They further added that the startup has been trying to take its products to a level where those can be industrially capable and deployable. In the Indian subcontinent, the startup started working in 2022 and has already partnered with the Indian Navy and Mahindra Logistics.
Commenting on the association with Mahindra, the founders said, “This year we have created a good snowball within the Mahindra ecosystem, wherein we are seeing a lot of deployments within their facilities. So, as of now, we are working with Mahindra Logistics as a first enterprise.”
Talking about the growth plans for the next financial year (FY25), Sharma and Srinivasan said that they are aiming for global expansion across the Middle East, APAC region, Australia, Europe and the US.
“We are very actively trying to find out which markets are perfect for us to start targeting initially. The expansion will be very strategic in terms of deployments, how we offer post-deployment support and maintenance for our robots,” they further added.
Prior to this, the startup raised $430K in a funding round from 100X.VC, CIO Angel Network and a host of angel investors.
In the warehouse automation market, Accio competes directly with robotics firm GreyOrange, which secured $135 Mn (around INR 1,123 Cr), in December last year. The startup specialises in designing, manufacturing, and deploying AI-based robotic systems for automating routine tasks in warehouses and fulfilment centres for major ecommerce and retail companies.
Back then, GreyOrange said that it would use the funding to scale up its technology leadership, and expansion and bolster adoption of its fulfilment orchestration platform in warehouses, distribution centres and retail stores.
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