Innovation Incubation Centre at IIM-A Leads Rs. 3.7 Crore Funding for Unbox Robotics
CIIE.CO, the technology business incubator centre at IIMA, and Arali Ventures, a venture capital firm, have raised Rs. 3.7 crore in funding for Unbox Robotics, a startup delivering AI-powered warehousing solutions.
CIIE.CO, the innovation incubator centre of Indian Institute of Management, Ahmedabad (IIMA), along with the venture capital firm Arali Ventures, has led a round of funding for Unbox Robotics. In this round of funding, the startup company working on the robotics logistics in India has received Rs. 3.7 crore ($500,000). SF and SOSV, existing investors of Unbox Robotics, and angel investors Vijay Kedia and Rajesh Sawhney also participated in the funding round.
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Unbox Robotics is a startup that offers smart and efficient warehousing solutions powered by Swarm Intelligence, an Artificial Intelligence software. Founded by Pramod Gadge and Shahid Menon, it is the first of its kind package offering that can be installed in less than two weeks. The founders claim that the package sorting solution delivered by their company uses less than half the space and, through AI-powered software, is twice as efficient as the systems currently available in the market.
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About CIIE.CO
CIIE.CO is the entrepreneurship centre of IIMA. With its roots going as far back as 2002, CIIE.CO was truly born during 2007-2008 as an incubator for technology businesses. CIIE.CO supports innovative tech-based startups by providing access to infrastructure, guidance as well as seed and venture capital. CIIE.CO has played a major role in the birth and success of many promising startups including recruiterbox, Razorpay, shifu, innovese, Travelyaari etc. CIIE.CO has different sections for solo founder/co-founders and also for teams having about 20 people.