This funding round was led by Mr. Uday Sodhi, Co-Founder of Founder's Room Capital along with other marquee investors including Mr. Jignesh Kenia, Mr. Utpal Doshi, Mr. Girish Jain, Mr. Pankaj Bhargava and other investors from angel investors from CIO Angel Network.
India, 31st May 2021: 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. The funding round was led by Mr. Uday Sodhi, Co-Founder of Founder's Room Capital along with other marquee investors including Mr. Jignesh Kenia, Mr. Utpal Doshi, Mr. Girish Jain, and Mr. Pankaj Bhargava and other investors from angel investors from CIO Angel Network.
Accio Robotics, founded by Tuhin Sharma and Pranav Srinivasan, alumni of Vellore Institute of technology (VIT) launched in 2020 and is 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.”
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, Mr. 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. We were really impressed by Tuhin and Pranav and the product that they are building.
Mr. Ninad Karpe, 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”
100X.VC is India’s first Fund to invest in early-stage start-ups using iSAFE - India SAFE Notes. The fund is sponsored by Mehta Ventures, the Family Office Investment arm of Sanjay Mehta, to nurture innovative ideas that add value and bring solutions to a problem. 100X.VC values its relationships with founders, co-investors, corporations, and investment bankers and effectively becomes the coach, strategy consultant, investment banker, business mentor, and trusted advisor of the start-up after investing.
About Accio Robotics:
Accio Robotics is an on-demand automation company that provides automation for material movement processes across industries. Accio aims to enable industry wide automation adoption by manufacturing and deploying state of the art hardware and software automation solutions. Autonomous robots built by Accio help in cutting the lead times and also helps in aiding humans as well as at the same time reducing human error when deployed in incidental tasks.
Published on: May 31, 2021