Unbox Robotics, a warehouse automation startup, has raised $28 million in a new funding round led by ICICI Venture.
Other investors in the round include RedStart Labs (InfoEdge), F-Prime, 3one4 Capital, Navam Capital, Force Ventures, and existing backers. The funding includes both new investment and secondary shares, with part of the secondary funding allowing employees to cash in on their ESOPs.
The funding will be used to expand the engineering team, speed up product development, and grow the company’s presence in India and other markets. Part of the secondary capital will also give employees liquidity through the company’s ESOP program.
“Over the last 12 months, nearly 96% of our revenue has come from Western markets; India accounts for about 4%,” founder and CEO Pramod Ghadge said. The company operates on both upfront sales and a Robot-as-a-Service (RaaS) model, allowing customers to either buy robots or opt for a subscription-based service.
Robotics cofounder Rohit Pitale said India’s logistics market is at an inflection point. “A few years ago, India was called a ‘sleeping giant’. It’s now waking up, with global 3PL players expanding through acquisitions, and rapid improvements in its road and warehouse infrastructure,” he said.
Founded in 2019 by Pramod Ghadge, Pune-based Unbox Robotics develops modular, AI-powered mobile robots used for sorting parcels in warehouses, fulfilment centres, distribution hubs, and last-mile logistics facilities.
These robots use swarm intelligence, allowing them to work together smoothly—similar to how a digital hive operates.
The company has deployed around 500 robots globally, mainly for ecommerce, retail, and logistics customers.
Unbox sells its robots directly and also offers them through a robot-as-a-service model. This helps businesses deal with labour shortages in Western countries and supply-chain challenges in India.
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