Unicorn India Ventures and Callapina Capital led the pre-Series A round for Ikin Global, an IoT smart lock brand. Existing backers participated in the round as well as new ones.

New launches that would offer AI-powered analytics, advanced sensor technology and industry-specific solutions will be offered with the proceeds.

The company will also be expanding its team presence across key geographies including India, the US, and Europe to ramp up its sales, marketing, operations, and support teams.

Ikin has been instrumental in safeguarding 2500 trucks and 1,500 locations, including massive warehouses, vaults and retail establishments.

A revenue target of Rs. 30 crore is claimed by the company for its smart locks business in the logistics sector. Ikin has also launched new smart products like Portable iSeals with a 1-year battery life, which replace one-time-use plastic seals for containers, and Smart GPS Truck Lock with advanced sensors for intrusion detection.

The managing partner of Unicorn India Ventures, Anil Joshi, says SectorQube tackles a major logistics and storage issue. The demand from e-commerce and logistics companies to secure shipments is growing as our world increasingly moves online. The strategic move towards deep tech applications will further broaden Ikin's horizon as they look to enter large international markets. SectorQube's growth trajectory will be accelerated as they enter new markets and strengthen their leadership positioning in the Indian market.

SectorQube Co-Founder and CEO Nibu Alias says, "At Ikin Global, our goal is to become the leading provider of smart lock solutions for the logistics and warehousing industry." Security issues in this sector are significant, and technological advancements are crucial for safeguarding valuable possessions and minimizing damage during transportation and storage.