In a strategic move aimed at enhancing its technological capabilities and expanding market presence, Arapl RaaS has recently secured a substantial funding of Rs 38 crore from its parent company ARAPL. This capital infusion is part of a larger Rs 48 crore rights issue, reflecting ARAPL’s strong support for its subsidiary’s growth and development.
The Rs 38 crore investment is specifically designated to drive revenue generation for Arapl RaaS, with a keen focus on the lucrative USA market. A significant portion of these funds will be directed towards working capital and enhancing its technological infrastructure, crucial for maintaining competitiveness and fostering innovation in the rapidly evolving autonomous vehicles and robotics sector.
Robinson Philipose, Co-Founder and CEO of ARAPL RaaS, commented, “The successful fundraising and the confidence shown by our parent company have greatly boosted team morale and resolve. This positive development underscores our team’s renewed commitment to achieving success against all odds.”
One of the key objectives of this investment is to penetrate the USA market by recruiting sales personnel and deployment engineers. Arapl RaaS has already made notable progress in this regard, having onboarded several clients for trial and purchase agreements valued at USD 3 million. Moreover, discussions with other potential clients are in progress, indicating a promising path for the company’s expansion endeavors.
Arapl RaaS is pleased to announce the appointment of a new Chief Technology Officer (CTO) as part of its efforts to strengthen its technological capabilities. The newly appointed CTO brings with them extensive experience, having worked in the autonomous vehicles and Advanced Driver Assistance Systems (ADAS) field for 14 years.
They previously served as the Chief Architect at a well-known technology firm specializing in autonomous vehicles. With such a distinguished background, the new CTO is expected to lead Arapl RaaS towards greater innovation and excellence. Under the new CTO’s leadership, Arapl RaaS will focus on developing indigenous software modules for navigation, Simultaneous Localization and Mapping (SLAM), perception, Warehouse Management System (WMS), and fleet management.
The company aims to leverage its existing proprietary modules while exploring new technological frontiers to remain at the forefront of the industry and meet the evolving needs of its customers. To support its technological advancements, Arapl RaaS is opening a new office in Gurgaon dedicated to tech development. This office will house a 30-member strong tech team led by the CTO, tasked with developing cutting-edge solutions to drive the company forward.
One of the key initiatives planned under the new CTO’s leadership is the creation of an in-house controller and powertrain to power all Arapl robots. This strategic move not only enhances the company’s self-reliance but also opens up new revenue streams beyond the autonomous vehicle market, catering to a broader spectrum of electric vehicles such as electric forklifts, electric pallet jacks, and other manual indoor electric vehicles.
Milind Padole, Managing Director of ARAPL, expressed confidence in Arapl RaaS’s potential to lead the autonomous vehicle and robotic solution space. He highlighted the company’s commitment to growth and its vision to establish itself as an industry leader, delivering value to customers.
In addition to its focus on commercial applications, Arapl RaaS is exploring opportunities in the defense sector, with discussions underway for a defense project. This diversification demonstrates the company’s versatility and ability to adapt to diverse market demands, further solidifying its position as a trailblazer in autonomous vehicles and robotic solutions.
With robust funding, a seasoned leadership team, and a relentless focus on technological innovation, Arapl RaaS is poised for exponential growth and set to redefine the future of mobility and automation. As the company expands globally and pushes technological boundaries, it remains committed to delivering unparalleled value to its customers and stakeholders.
