Ikin Global, an emerging brand in IoT-based smart locks, has successfully raised $1 million in its pre-Series A funding round. The investment was led by Unicorn India Ventures and Callapina Capital, with participation from existing investors.
The funding will drive Ikin’s ambitions to enhance its product line with innovative features like AI-powered analytics, cutting-edge sensor technology, and tailored industry-specific solutions. The company is also set to expand its geographical footprint, strengthening its sales, marketing, operations, and support teams in key markets across India, the US, and Europe.
Innovative Solutions for the Logistics Sector
Ikin Global has already made significant strides in the logistics and storage sectors, securing 2,500 trucks and 1,500 facilities, including warehouses, vaults, and retail outlets. The company boasts an order book of 20,000 smart locks and aims to generate Rs 30 crore in revenue from its logistics-focused smart lock solutions.
Among its innovative offerings are the Portable iSeals, a sustainable alternative to single-use plastic seals for containers, featuring a battery life of up to one year, and the Smart GPS Truck Lock, equipped with advanced intrusion detection sensors. These solutions align with Ikin’s mission to combine security and sustainability for the evolving needs of its clients.
Aiming for Global Leadership
With this funding round, Ikin Global is positioned to solidify its leadership in the IoT smart lock market by combining technological advancements with a customer-centric approach. The expansion into international markets and the integration of AI and advanced sensors are expected to set new benchmarks in the security solutions industry.
