Bengaluru-based warehouse robotics start-up Accio Robotics has raised $1.8 million in a pre-Series A funding round.
The round saw participation from investors including BIG Capital, Unisync Angels, Daniel Fitzgerald and some existing investors—Roots Ventures and Anuj Bihani (Founder – Impaqt Robotics/Alstrut).
Accio is building mobile robotics solutions for warehouses and fulfilment centres, where they’re primarily automating the process of order picking. The robotic solutions not only help drive order fulfilment productivity but also help in the hyper optimisation of space utilisation.
It intends to deploy the raised funds towards reinforcing the technology and product teams, establishing channels for international growth and enabling more robot deployments. “This fundraise comes at a great time for us, as it puts us in a good position to showcase our products in the global landscape, as well as put us in a better position to assemble a stronger team,” said Pranav Srinivasan, co-founder of Accio Robotics.
Higher-value activities
Preetinder Singh Panjrath, CFO (BIG Capital), said, “We were particularly impressed by the simplicity and efficiency of the product offering, its ability to deliver attractive ROI to its customers and, in the process, enabling enterprises to redeploy expensive human capital towards higher-value activities.”
The start-up previously raised investment from 100X VC, CIO Angel Network and a clutch of angel investors led by renowned angel investors Ajay Sarupria and Uday Sodhi.
Ninad Karpe, Partner (100X.VC), Accio’s first investor, concluded, “We are extremely optimistic about the market potential for warehouse robotics and, more particularly, about the start-up. As the first institutional investors in Accio Robotics, we are delighted that they have raised their pre-Series A round, which will lead them to a path of rapid growth.”
The Bangalore-based start-up plans to officially launch and showcase their product globally in February 2024 and will be targeting a global market presence beyond that.