Venture Catalysts and IAN lead INR 5 Cr Funding Round in Robotics Start-up Peppermint
Indian angel Network (IAN) and Venture Catalysts have led funding of Rs 5 crore in Pune based industrial robotics startup Peppermint.
Vinners Group and a group of angel investors led by Naveen Kumar Kshatriya participated in this funding round.
“We have the first-mover advantage in the commercial robotics space in India and our robots have been tested and deployed in various sectors including pharmaceuticals, logistics, manufacturing and hospitality. This fundraise will enable us to ramp up our production, invest heavily in R&D and scale the business across India and the Middle East. We are looking at aggressive growth and we have our eyes set on the European market as well. The latest investment asserts investor confidence in our value proposition and our growth potential,”said RunalDahiwade, CEO and Founder, Peppermint.
Peppermint has built India’s first industrial floor-cleaning robot that uses a combination of chemicals, physical scrubbing and ultraviolet light to facilitate seamless cleaning of floors. The robots help in automatic housekeeping and service operations across warehouses, offices, industries, airports and public spaces.
The IIT Bombay incubated Peppermint was founded in February 2020 by Miraj C. Vora, RunalDahiwade and NityanandPrabhutendolkar. Peppermint has built India’s first industrial floor-cleaning robot that uses a combination of chemicals, physical scrubbing and ultraviolet light to facilitate seamless cleaning of floors. The robots help in automatic housekeeping and service operations across warehouses, offices, industries, airports and public spaces.
Mumbai basedVenture Catalysts is a startup incubator and accelerator platform that invests $250k-1.5 million in early-stage startups. The founding team includes Dr Apoorva Ranjan Sharma, Mr Anil Jain, Mr Anuj Golecha and Mr Gaurav Jain.
Started in April 2006 in New Delhi, the IAN is a network of Angel investors who are keen to invest in the early-stage businesses can create disproportionate value. It provides access to wide range of networks, high quality mentoring and inputs on strategy as well as execution.
“Peppermint is uniquely positioned to make significant strides in the automation and robotics industry in India. The organised Facility Management Services market in India and UAE has crossed $30 billion as of 2020 and is expected to record exponential growth in the coming years. We believe the Peppermint team is well-equipped to bank on this growth opportunity and scale rapidly on the back of its state-of-the-art, avant-garde, made-in-India robots,”said Dr Apoorva Ranjan Sharma, President and Co-founder, Venture Catalysts.
Vinners Group and a group of angel investors led by Naveen Kumar Kshatriya participated in this funding round.
“We have the first-mover advantage in the commercial robotics space in India and our robots have been tested and deployed in various sectors including pharmaceuticals, logistics, manufacturing and hospitality. This fundraise will enable us to ramp up our production, invest heavily in R&D and scale the business across India and the Middle East. We are looking at aggressive growth and we have our eyes set on the European market as well. The latest investment asserts investor confidence in our value proposition and our growth potential,”said RunalDahiwade, CEO and Founder, Peppermint.
Peppermint has built India’s first industrial floor-cleaning robot that uses a combination of chemicals, physical scrubbing and ultraviolet light to facilitate seamless cleaning of floors. The robots help in automatic housekeeping and service operations across warehouses, offices, industries, airports and public spaces.
The IIT Bombay incubated Peppermint was founded in February 2020 by Miraj C. Vora, RunalDahiwade and NityanandPrabhutendolkar. Peppermint has built India’s first industrial floor-cleaning robot that uses a combination of chemicals, physical scrubbing and ultraviolet light to facilitate seamless cleaning of floors. The robots help in automatic housekeeping and service operations across warehouses, offices, industries, airports and public spaces.
Mumbai basedVenture Catalysts is a startup incubator and accelerator platform that invests $250k-1.5 million in early-stage startups. The founding team includes Dr Apoorva Ranjan Sharma, Mr Anil Jain, Mr Anuj Golecha and Mr Gaurav Jain.
Started in April 2006 in New Delhi, the IAN is a network of Angel investors who are keen to invest in the early-stage businesses can create disproportionate value. It provides access to wide range of networks, high quality mentoring and inputs on strategy as well as execution.
“Peppermint is uniquely positioned to make significant strides in the automation and robotics industry in India. The organised Facility Management Services market in India and UAE has crossed $30 billion as of 2020 and is expected to record exponential growth in the coming years. We believe the Peppermint team is well-equipped to bank on this growth opportunity and scale rapidly on the back of its state-of-the-art, avant-garde, made-in-India robots,”said Dr Apoorva Ranjan Sharma, President and Co-founder, Venture Catalysts.
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