Ikin Global, a leading IoT smart lock company, has raised $1 million in its pre-Series A funding round. The investment was spearheaded by Unicorn India Ventures and Callapina Capital, with continued support from existing investors.
The funding will propel Ikin’s efforts to expand its product portfolio, integrating AI-powered analytics and advanced sensor technologies tailored for industry-specific applications. This expansion also includes launching innovative solutions to meet diverse market needs.
To accelerate growth, the company plans to strengthen its presence in key regions, including India, the US, and Europe. This will involve scaling up its sales, marketing, operations, and support teams to meet rising demand.
Ikin has already made significant strides by securing 2,500 trucks and 1,500 facilities, ranging from warehouses to vaults and retail outlets. It currently boasts an order book of 20,000 smart locks, with a projected revenue of ₹30 crore from the logistics sector.
The brand recently introduced cutting-edge smart products such as Portable iSeals, which feature a one-year battery life and replace disposable plastic seals for containers, as well as Smart GPS Truck Locks equipped with advanced intrusion detection sensors.
This funding marks a pivotal moment in Ikin’s journey to revolutionize the IoT smart lock industry with innovative, scalable solutions.