In a busy Pune factory, a sleek robot glides across the floor, scrubbing and transporting pallets without human assistance. The machine is one of the latest models from Peppermint Robotics, a startup that has just closed a ₹100 crore (about $10.5 million) pre‑Series B financing round.
Funding and growth plans
The round was led by pi Ventures and Crane Venture Partners, with participation from Asiana Fund. It included both primary capital and secondary share sales, according to founder Runal Dahiwade. The bulk of the money, he said, is primary capital intended to scale manufacturing, develop new robots and strengthen the company’s presence in the United States and Europe.
Peppermint, founded in 2019 and incubated at IIT Bombay’s SINE, previously raised ₹34 crore in a Series A round in April 2025. The new funds will support an assembly line in North America, complementing its existing Pune production and R&D facilities.
Product portfolio and market reach
Starting with a floor‑cleaning and sanitising robot, the firm now offers scrubber‑dryers, vacuuming and mopping units, three material‑handling models and automated docking stations. Its cleanroom scrubber‑dryer has passed qualification testing in an EU GMP Grade C cleanroom, a niche that Dahiwade describes as the world’s first cleanroom robotics application.
Robots are sold mainly to facility‑management companies. In India an average unit costs around ₹20 lakh; in the United States the price ranges from $35,000 to $40,000, depending on installation and related services. Revenue grew from ₹2.71 crore in FY23 to ₹6.26 crore in FY24 and is projected at ₹21 crore in FY25, with the U.S. contributing nearly half of sales and India about 30%.
Over the next 12‑15 months Peppermint plans to launch smaller and larger cleaning and material‑handling robots, with outdoor models slated for 2028. Its proprietary Peppermint OS, combined with computer‑vision and LiDAR, enables autonomous navigation and obstacle avoidance, while customers monitor performance via a cloud dashboard and mobile apps.