New Delhi, Jan. 20 -- Pune-based supply chain robotics technology company Unbox Robotics has raised $28 million (around Rs 255 crore) in its Series B funding round led by ICICI Venture, a wholly owned subsidiary of ICICI Bank focusing on private equity, venture capital, real estate, and infrastructure investments, and Info Edge's investment arm, Redstart Labs.

The round also saw participation from F-Prime, 3one4 Capital, Navam Capital, Force Ventures, and other existing investors. The fundraising included a mix of primary and secondary transactions and provided liquidity to employees through the company's ESOP programme.

The company plans to use the fresh capital to strengthen its leadership and engineering teams, accelerate new product development, and expand its market presence in India and select international markets.

Founded in 2019, Unbox Robotics builds modular robotic systems for warehouse and logistics automation and has customers across India, Europe, and the US, serving e-commerce, retail, and third-party logistics firms.

In 2021, the company had raised $7 million in its Series A funding round led by 3one4 Capital, along with the participation of Sixth Sense Ventures and Redstart Labs, with participation from Rahul Chaudhary (Treebo Hotels), Nikhil Vora and Kathan Shah (Sixth Sense Ventures), and Veda VC.

Founder and CEO Pramod Ghadge said the funding would help Unbox Robotics scale up faster across global markets, citing strong year-on-year growth and profitability. "With over 5x year-on-year growth and profitability, we're now doubling down on scaling [up] our products across key global markets," Ghadge said, adding that the capital will also go towards hiring and product development.

Sharad Malpani, director of ICICI Venture and co-head of IVen Amplifi Fund, said, "The company has demonstrated strong execution, differentiated technology, and a clear understanding of customer needs in the logistics and intralogistics automation space. We believe Unbox Robotics is well-positioned to play a leading role in enabling efficient, scalable warehouse operations in India and globally."

Published by HT Digital Content Services with permission from VC Circle.