Peppermint Robotics, a Pune company that makes autonomous floor-cleaning and material-handling robots, has raised ₹100 crore (about $10.5m) in a pre-Series B round co-led by pi Ventures and Crane Venture Partners. The company announced the round on 4 November 2026.
Asiana Fund also took part. The round mixed new capital with the sale of some existing shares, and founder and chief executive Runal Dahiwade told Inc42 that most of it was primary capital. The valuation was not disclosed.
The company raised a ₹34 crore (about $4m) Series A in April 2025, according to Entrackr and Inc42.
“Our customers judge us on one thing: a clean floor, every shift.”Runal Dahiwade, founder and CEO, Peppermint Robotics
What Peppermint makes
Peppermint sells floor-cleaning robots, including its SD4X, SD2X and VC2X models, along with three material-handling robots and automatic docking stations. It is also developing robots for cleanrooms. The machines run on the company's own software, Peppermint OS, which uses computer vision and LiDAR to navigate, and customers manage them through a cloud dashboard.
Most of its customers are facility-management companies, and its robots work in factories, hospitals, airports, shopping centres, warehouses, hotels and universities. The company said a global pharmaceutical company had qualified its cleanroom scrubber for use in an EU GMP cleanroom.
Inc42 reported that a robot costs about ₹20 lakh in India and $35,000 to $40,000 in the US. It named China's Gausium and Singapore's LionsBot as competitors, and reported that Dahiwade claims more than 65% of India's floor-cleaning robot market.
Revenue and markets
Peppermint operates in nine countries, and the US is its largest market. Inc42 reported that the US accounts for nearly half of revenue and India for close to 30%. The company has offices in Pune and Austin, Texas.
Operating revenue rose from ₹2.71 crore in FY23 to ₹6.26 crore in FY24 and ₹21 crore in FY25, according to Inc42. The company said revenue grew nearly sixfold between FY24 and FY26. Inc42 reported that it expects to fall short of its ₹100 crore revenue target for FY27 but to pass that level within the following 12 months, and that its core business is profitable although the company is loss-making overall.
Neha Aggarwal, investment director at Asiana Fund, said Peppermint had shown it could develop and scale robotics products that compete globally. Entrackr and Inc42 both reported the round on the morning of 4 November.
What the money is for
Peppermint will spend the money on research and development, more manufacturing capacity and an assembly line in North America, as well as expansion in the US, Asia and Europe and senior and engineering hires. Inc42 reported that it plans new robot sizes over the next 12 to 15 months and outdoor cleaning robots by 2028.
The company was founded in 2019 and incubated at SINE, the business incubator of IIT Bombay. Shubham Sandeep, a partner at pi Ventures, said its robots had shown reliable performance at scale with a clear return on investment.
Company website: peppermintrobotics.com