[Funding alert] Venture Catalysts, former Castrol Asia head invest in robotics startup Peppermint
Industrial robotics startuphas raised an undisclosed amount of seed funding from and Naveen Kshatriya, Former Head of Castrol Asia and ANZ.
Peppermint in a statement said that it will use the funds to scale up its manufacturing efforts, strengthen its after-sales support infrastructure and foray into new markets.
Started by Runal Dahiwade, Nityanand Prabhutendolkar and Miraj C. Vora in May 2019, Peppermint claims to have built India’s first industrial floor cleaning robot launched in February 2020 which has the ability to kill the COVID-19 virus through scrubbing, chemicals, and UVC.
The robot has been designed to service everyday floor cleaning needs at public and industrial spaces including airports, railways, factories, industries, and hotels.
Runal Dahiwade, Founder and CEO, Peppermint, adds,
"We are now excited to strengthen our team and expand to new territories as we scale production."
Incubated at SINE-IIT Bombay, Peppermint has been the recipient of Nidhi Prayas grant from the Department of Science and Technology, Government of India.
According to the statement, its floor cleaning and sanitising robots are equipped with advanced features and have already been deployed across various sectors such as pharma, logistics, manufacturing, and hospitality. Peppermint is currently operational in Pune and Bengaluru.
Dr Apoorv Ranjan Sharma, President and Co-founder, Venture Catalysts said,
"With the onset of COVID-19 pandemic, the need for tech-enabled cleaning and hygiene solutions at workplaces is now higher than ever. Robots and automated machines can play a vital role during this crisis as they can minimise human intervention and enable social distancing. Many countries have already deployed robots that can clean large surfaces without requiring any human assistance, and India is also ruminating about the potential of cleaning robots in combating the pandemic."
"Peppermint is well-positioned to take the lead in this area with its state-of-the-art offerings. We are confident the startup will grow manifold in the coming years, establishing its name in the commercial robotics space."
This is the fourth investment by Venture Catalysts in this month. Prior to this, the startup integrated incubator and accelerator platform has invested in Pune-based Online-to-Offline (O2O) platform for mobile phones and accessories - GabbarDeals, retail aggregator platform, F5 and in online job searching and recruiting platform-MyKaam.
Edited by Javed Gaihlot