Peppermint Robotics has raised Rs 100 crore in a funding round led by pi Ventures and Crane Venture Partners. The company has now raised Rs 150 crore to date.
Founded in 2019 by Runal Dahiwade, who is also its chief executive, Peppermint develops autonomous robots for material transportation. The company operates in nine countries.
The US is Peppermint's largest market, Dahiwade said. India comes next, followed by western Europe. The geographic mix shows that most of the company's business lies outside its home market, even as India remains a significant contributor.
The round is co-led by two investors with different bases. pi Ventures and Crane Venture Partners are both named as leads, which puts the two firms at the front of the company's investor group as it continues to expand.
The announcement did not specify the stage of the round, and the details of how the new capital will be deployed were not set out. What is clear is the scale of the company's funding so far: Rs 100 crore of the Rs 150 crore total it has raised to date comes from this round alone, going by the headline amount.
Peppermint's focus on autonomous systems for moving materials places it in the broader market for robotics and automation. Its spread across nine countries, with the US leading, gives the company a base in several regions.
