Published 19:44 IST, October 7th 2020
Anand Mahindra joins Genrobotics' pre-Series A fund round; Bandicoot robot company's focus
Anand Mahindra, the founder of Mahindra group funds Generobotics, a robotics firm based in Trivandrum famous for the Bandicoot robot.
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Genrobotics, a Trivandrum-based robotics firm famous for the invention of the Bandicoot robot that aims to end human manual scavenging, raised Rs. 2.5 crore in a pre-series A round from Unicorn India Ventures, on Wednesday. Alongside the same, the firm had also received funds from Anand Mahindra, the chairman of Mahindra Group, and SEA Fund, an investment management fund based in Bengaluru.
We are pleased to share that we have led the pre-series round of @GenRobotic with participation of @anandmahindra and #seafund .
— UnicornIndia (@unicornindia) October 7, 2020
The newly raised funds will be used to develop multiple new robotic use-cases and expand the company’s reach globally.https://t.co/HovauUzzvE
The funds would be utilized in bringing the Bandicoot project to scale, to meet the increasing demands of eradicating scavenging, to develop new projects, and introduce new technologies for the healthcare sector, said Vimal Govind, co-founder and CEO of Genrobotics.
The establishment has been working closely with the central government and various state governments to bring an end to the practice of manual scavenging from the subcontinent and has also received recognition from the Ministry of Housing and Urban Affairs.
The ministry had also called it an excellent example of how human intervention in the process of scavenging can be reduced, right after it was implemented in Coimbatore.
"The robot aims to bring smiles to the faces of several, and the efforts showcase the harsh realities of manual scavenging across the nation," added Govind.
The robot, within a short period, had been deployed in about 11 states, leading to the rehabilitation of several manual scavengers.
"It was a great moment, for all of us, when Anand Mahindra had taken a personal interest in our project, for identifying where the real problem was," added Govind.
(WITH AGENCY INPUTS)
19:44 IST, October 7th 2020