Warehouse robotics startup Accio Robotics raises $1.8 Million, as part of their Pre-Series A funding
Bengaluru based Warehouse robotics startup Accio Robotics recently announced that they have raised a funding of $1.8 million in Pre-Series A with investors like BIG Capital, Unisync Angels, Daniel Fitzgerald and some existing investors like Roots Ventures, and Anuj Bihani (Founder – Impaqt Robotics/Alstrut).
Accio Robotics had 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. Accio plans to utilise the funds towards reinforcing the technology and product team, establish channels for international growth and to enable more robot deployments.
Speaking about their investment, Preetinder Singh Panjrath, CFO (BIG Capital), said, “we are excited to join Accio Robotics as the company transitions to scaling up its hardware and software solution for warehouse automation. We were particularly impressed by the simplicity and efficiency of the product offering, ability to deliver attractive ROI to its customers and in the process enabling enterprises to redeploy expensive human capital towards higher value activities. Accio robotics ability to operate in both 2D and 3D configuration makes it particularly attractive choice for warehouse automation and we look forward to supporting the company achieve great success”.
Pranav Srinivasan, Co-founder, Accio Robotics said: “This fundraise comes at a great time for Accio. It puts us in a fantastic position to showcase our products in the global landscape, as well as put us in a better position to assemble a stronger team. We are grateful for the support that our investors have shown us. It is definitely going to help us realise our goal of building world class robotics products at a global level.”
Ravinder Vashist, Partner (Roots Ventures), who made a follow-on investment added that, “We are quite impressed with the vision of Tuhin and Pranav and what they have executed so far. Accio Robotics’ aim to enhance efficiencies in warehouses sits well with our investment theme of identifying technology led disruptors across sectors. This equity raise will help the company further improve its technology stack and sharpen their go-to-market strategy.”
Further speaking about the round, Ninad Karpe, Partner (100X.VC), Accio’s first investor, concluded that, “We are extremely optimistic about the market potential for warehouse robotics and more particularly, about Accio Robotics, given the profile of their founders and robustness of their business model. 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.”
Accio is building mobile robotics solutions for warehouses and fulfilment centres wherein they’re primarily automating the process of order picking. The robotic solutions not only help drive order fulfilment productivity, but also help in hyper optimisation of space utilization.
The Bangalore based startup plans to officially launch and showcase their product globally in February 2024 and will be targeting a global market presence beyond that.