Peppermint, an IIT-Bombay incubated industrial robotics startup, announced that it has received an undisclosed amount of equity funding from Venture Catalysts, said the startup in a press release today. Naveen Kshatriya, former head of Castrol Asia and ANZ also participated in this seed funding round.
Peppermint said they will use the current financing to scale up their manufacturing, strengthen their after-sales support infrastructure and venture into new markets.
Founded by Runal Dahiwade, Nityanand Prabhutendolkar and Miraj C Vora, Peppermint designs industrial cleaning robots which are suitable for public and industrial spaces such as airports, railways, factories, industries and hotels. It uses scrubbing, chemicals and ultraviolet C rays to kill germs.
Runal Dahiwade, founder and CEO, Peppermint, said, “We are excited to strengthen our team and expand to new territories as we scale production.”
Apoorv Ranjan Sharma, 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 minimize human intervention and enable social distancing. 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 year, establishing its name in the commercial robotics space.”
Venture Catalysts is a startup incubator and accelerator platform. It invests $250 k – $1.5 million in early stage startups. Peppermint Robots was incubated at SINE-IIT Bombay and has been the recipient of Nidhi Prayas grant from the Department of Science and Technology, Government of India. The company is currently operational in Pune and Bengaluru.
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