Ikin Global Secures $1 Million in Pre-Series A Round Led by Unicorn India Ventures and Callapina Capital
- ByStartupStory | November 26, 2024
Ikin Global, a leading IoT smart lock brand, has successfully raised $1 million in its pre-Series A funding round. The round was led by Unicorn India Ventures and Callapina Capital, with participation from existing investors.
The company plans to use the funds to strengthen its product portfolio by introducing new offerings with AI-powered analytics, advanced sensor technology, and industry-specific solutions. Additionally, Ikin is set to expand its geographical footprint across India, the US, and Europe. The expansion will focus on bolstering its sales, marketing, operations, and support teams to meet the growing demand for its smart locking solutions.
Ikin Global has already made significant strides in the logistics sector, having secured 2,500 trucks and 1,500 facilities, including large warehouses, vaults, and retail shops. The company’s order book currently stands at 20,000 smart locks, with an ambitious revenue target of ₹30 crore from its smart locks business in the logistics sector.
To further strengthen its position, Ikin has recently launched innovative products such as Portable iSeals, which boast a one-year battery life, offering an eco-friendly alternative to one-time-use plastic seals for containers. The company has also introduced Smart GPS Truck Locks equipped with advanced sensors for intrusion detection.
Follow Startup Story
Related Posts
