Affordable Robotics and Automation (ARAPL) has granted funding of Rs 38 crore to its subsidiary, Arapl RaaS, to accelerate its growth and development. Arapl Raas is presently focusing on the US market and this capital will be used to accelerate the revenue-generation phase of the hardware agnostic tech company, which is driving warehouse automation through robotics.
This funding is part of a rights issue of Rs 48 crore, thanks to the financial support from ARAPL. A significant part of the fund will be used to improve its tech infrastructure and working capital. The firm is also looking at hiring deployment engineers and people for its sales team.
The company has entered into sale agreements worth $3 million, and is working to add more to its client base as part of its aggressive expansion.
Having opened a new tech-development office in Gurugram, it has also appointed an experienced chief technology officer (CTO) who has been associated with the autonomous vehicles space and possesses knowledge of advanced driver assistance systems (ADAS). Together, the CTO and a tech team comprising 30 members will develop cutting-edge solutions to help the company grow in the autonomous vehicles and robotic solutions space.
Arapl RaaS intends to foray into the defence space too.
In June 2023, the company had revealed plans to establish a presence in Australia in FY24, with the possibility of exploring the Middle East and Europe.
