Accio Robotics, a robotics automation company focused on designing and manufacturing autonomous mobile robots, has raised a fresh round of funding from marquee angel investors.
Accio Robotics, founded by Tuhin Sharma and Pranav Srinivasan, alumni of Vellore Institute of technology (VIT)launched in 2020 andis a 100X.VC Class 03 Portfolio company. Accio is building autonomous mobile robots that is capable of carrying out material handling of goods from one point to another without human intervention.
Tuhin Sharma, Co-Founder of Accio Robotics said, “This fresh round raised by Accio Robotics is a great step in the right direction for our company. The trust and the faith shown by our investors in us only gives us more confidence to build a successful deep tech company in the Indian ecosystem. This investment will not only help us strengthen our product development efforts, but will also provide a platform for Accio to be able to penetrate a wider market with much more wide spread impact.”
The funding round was led by Uday Sodhi, Co-Founder of Founder's Room Capital along with other marquee investors including Jignesh Kenia, Utpal Doshi, Girish Jain, and Pankaj Bhargava and other investors from angel investors from CIO Angel Network.
Material handling, is an extremely wasteful and non-value added process in any industry and Accio Robotics aims to make this process as efficient as possible, by spending the least amount of capital using their robots. Their products are best suited to industries such as warehousing, manufacturing, pharma, packaging, FMCG and e-commerce and are designed to operate and function in a conventional India shop floor.
Commenting on the announcement, Uday Sodh, Co-Founder, Founder's Room Capital said, “Accio Robotics is an exciting startup in the Autonomous Mobile Robot space. We at Founders Room Capital believe in backing smart and passionate founders in high tech areas with huge market potential. AMRs is a need for every manufacturing and logistics company that is looking to reduce costs and improve efficiency through automation.”
NinadKarpe, Partner at 100X.VC said, “We are delighted to be the first institutional investor in Accio Robotics, which will simplify and disrupt the way in which material handling will happen across a range of industries from warehousing and hospitals to office parks. At 100X, we fund and nurture path-breaking startups and Accio Robotics, with its unique technology, is well placed to become a pioneer and leader in the Autonomous Mobile Robot space.”