Warehouse automation startup Unbox Robotics raises $28 million led by ICICI Venture

Unbox Robotics, a Warehouse automation startup, has raised $28 million in a funding round led by ICICI Venture.

The round also saw participation from RedStart Labs (InfoEdge), F-Prime, 3one4 Capital, Navam Capital, Force Ventures, and existing investors.

The round includes both primary and secondary capital, with some of the secondary funding giving employees liquidity through ESOPs.

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The funding will be used to expand the engineering team, speed up product development, and grow the company’s presence in India and other markets. Part of the secondary capital will also give employees liquidity through the company’s ESOP program.

“Over the last 12 months, nearly 96% of our revenue has come from Western markets; India accounts for about 4%,” founder and CEO Pramod Ghadge said. The company operates on both upfront sales and a Robot-as-a-Service (RaaS) model, allowing customers to either buy robots or opt for a subscription-based service.

Robotics cofounder Rohit Pitale said India’s logistics market is at an inflection point. “A few years ago, India was called a ‘sleeping giant’. It’s now waking up, with global 3PL players expanding through acquisitions, and rapid improvements in its road and warehouse infrastructure,” he said.

Founded in 2019 by Pramod Ghadge, Pune-based Unbox Robotics builds modular, AI-powered mobile robots for sorting parcels in warehouses, fulfilment centres, distribution hubs, and last-mile logistics facilities. The robots use swarm intelligence to work together like a digital hive.

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The company has deployed about 500 robots worldwide, mainly for ecommerce, retail, and logistics customers.

Unbox sells its robots directly and also offers them through a robot-as-a-service model, responding to labour shortages in Western markets and supply-chain challenges in India. 

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