Genrobotic Innovations Pvt Ltd, which operates impact-focussed robotics firm Genrobotics, has raised Rs 2.5 crore (approximately $340,500) in a pre-Series A funding round.
The round in Thiruvananthapuram-based Genrobotics has been led by existing investor Unicorn India Ventures, with participation from early-stage-focussed SEA Fund and Mahindra Group chairman Anand Mahindra.
The company was set up in 2015 by Vimal Govind, Arun George, Rashid K, and Nikhil NP. Its products include Bandicoot 2.0, an automated manhole cleaning robot that has so far been deployed across 11 states in the country.
According to its website, other products include manhole monitoring system G-Beetle, and sewer well-cleaning robot Bandicoot WC. The firm will use the capital it has raised to scale up the production of the latest Bandicoot model, as well as invest in the development of products for the healthcare segment.
“We decided to back them as we saw the potential robotics can bring to certain socially important issues especially if the team backing the business is as passionate as we have seen in Genrobotics,” Unicorn India Ventures managing partner Anil Joshi said.
Genrobotics is among the handful of firms in the larger robotics space that have raised capital in the previous few months.
In June, industrial robotics startup Peppermint raised an undisclosed sum in seed funding from startup incubator and accelerator Venture Catalysts, as well as former Castrol Asia head Naveen Kshatriya.
In March, VCCircle reported that Janyu Technologies Pvt. Ltd was raising capital from an electronics manufacturer by selling a minority stake. The company designs and makes robots for hazardous and physically strenuous works.
In January, Invento Robotics raised Rs 2 crore (around $281,330) in a seed funding round led by the early-stage ITI Growth Opportunities Venture Fund of Investment Trust of India. Others that participated included Pune-based Windrose Capital, angel investors Kevin Saboo and Vikash Sharma of IC1101 Inc.
Also in January, Venture Catalysts invested in Skilancer Solar Pvt. Ltd, a startup that provides robotic cleaning systems for solar panels of commercial parks and establishments.
