Peppermint, an industrial robot manufacturing firm that produces and deploys commercial housekeeping and service robots, has received a Rs 5 crore fundraising round sponsored by Venture Catalysts and Indian Angel Network. Vinners Group and a group of angel investors led by Naveen Kumar Kshatriya also participated in the round.
Peppermint was incubated at IIT-Society Bombay’s for Innovation and Entrepreneurship, and was founded by serial entrepreneurs Runal Dahiwade and Miraj C Vora. The Pune-based business claims to have developed India’s first industrial floor-cleaning robot, which cleans floors using a combination of manual scrubbing, chemicals, and ultraviolet radiation.
Runal Dahiwade, CEO and Founder, Peppermint, said, “We have the first-mover advantage in the commercial robotics space in India and our robots have been tested and deployed in various sectors including pharmaceuticals, logistics, manufacturing and hospitality. This fundraise will enable us to ramp up our production, invest heavily in R&D and scale the business across India and the Middle East. We are looking at aggressive growth and we have our eyes set on the European market as well. The latest investment asserts investor confidence in our value proposition and our growth potential.”