Published: November 4, 2026
StartupFeed Quick Take
- Peppermint Robotics raised Rs 100 crore in a pre-Series B round led by pi Ventures and Crane Venture Partners.
- Operating revenue reached Rs 21 crore in FY25, more than triple the Rs 6.26 crore of FY24.
- Peppermint Robotics still posted a Rs 6 crore net loss in FY25 and expects to miss its Rs 100 crore FY27 revenue goal.
Pune-based Peppermint Robotics has raised Rs 100 crore in a pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund joining.
The round is nearly three times the last raise. Its funding statement puts the Series A at Rs 34 crore, back in April 2025.
Fast growth has not brought profit. Revenue more than tripled to Rs 21 crore in FY25, from Rs 6.26 crore a year earlier. Filings with the Registrar of Companies show the net loss widened to Rs 6 crore.
Runal Dahiwade, the founder and chief executive, put the pitch plainly:
“Our customers judge us on one thing: a clean floor, every shift.”
Runal Dahiwade, founder and chief executive, Peppermint Robotics. From the company’s funding statement, November 4, 2026.
What Peppermint Robotics Builds, and Where
Peppermint Robotics builds autonomous robots that clean floors and move goods. Runal Dahiwade and two co-founders started it in 2019 at SINE, the incubator at IIT Bombay.
Its line-up includes scrubber-dryers, vacuum and mopping robots, three material-handling models and docking stations. A system called Peppermint OS handles navigation, while computer vision and LiDAR help the machines map a space and avoid people.
Customers track the fleet through a cloud dashboard and mobile apps. Today the robots sell in nine countries. The United States is the biggest market, near half of sales, with India about 30%.
Pune and Austin, Texas, are now the two bases for Peppermint Robotics. Miraj C. Vora and Nityanand Prabhutendolkar co-founded it with Dahiwade. The robots take on repetitive jobs like scrubbing large floors in hospitals, factories and airports.
Revenue Tripled, the Losses Did Not
The three-year trend shows how new this scale is. Operating revenue was just Rs 2.71 crore in FY23, then Rs 6.26 crore in FY24.
| Financial year | Operating revenue | Net loss |
|---|---|---|
| FY23 | Rs 2.71 Cr | Rs 4.43 Cr |
| FY24 | Rs 6.26 Cr | Rs 5.75 Cr |
| FY25 | Rs 21 Cr | Rs 6 Cr |
Losses have grown with the business, not shrunk. Total costs reached Rs 27 crore in FY25, against Rs 21 crore of revenue.
The scale is still small for a hardware firm. Revenue of Rs 21 crore spreads across nine countries and a growing product range.
Peppermint Robotics says its core cleaning business has been profitable for several quarters. Spending on research and overseas growth keeps the overall result in the red.
The founder reads the trend as momentum. Runal Dahiwade says revenue doubled over the past year, and claims it grew close to sixfold between FY24 and FY26.
Why pi Ventures and Crane Put In Rs 100 Crore
The fresh money will go into bigger factories and new robots. An assembly line in North America is also planned, on top of the Pune base. Most of the new capital is primary, Dahiwade said, with a smaller secondary part.
Most customers are facility management firms. A robot costs about Rs 20 lakh in India, and $35,000 to $40,000 in the United States. Spare parts, service deals and upgrades bring in more from the second year.
The investors are backing a clear home-market leader. In India, Peppermint Robotics claims more than 65% of the floor-cleaning robotics market. Its main rivals are Gausium of China and LionsBot of Singapore.
The round takes Peppermint Robotics’ total funding to about Rs 150 crore since 2019. Asiana Fund joined pi Ventures and Crane Venture Partners in the latest raise.
The FY27 Target Peppermint Expects to Miss
A hard revenue target now looks out of reach. Dahiwade told Inc42 that the Rs 100 crore sales goal for FY27 now sits about a year away. Shipping delays and global tensions are the reasons he gave.
One product milestone stands out. The cleanroom scrubber-dryer has passed qualification in an EU GMP Grade C cleanroom. GMP means good manufacturing practice, a pharma rulebook.
Dahiwade claims Peppermint Robotics is the world’s first cleanroom robotics company. Bigger and smaller robots are due over the next 12 to 15 months, with outdoor cleaning machines planned for 2028.
The main test now is service, not sales. Keeping machines running across nine countries, while funding a wider range, is the harder job. Whether the robots hold up far from Pune is the open question.
What this means for you: If you run a facility management firm or a warehouse in India, cleaning and material-handling robots are getting cheaper to trust and buy. Fresh cash now lets Peppermint Robotics expand service and launch new models, so expect more vendors and sharper pricing before you sign a long contract.
StartupFeed Insight
The number that matters here is not the Rs 100 crore. It is the jump from Rs 6.26 crore to Rs 21 crore in a single year, on robots built and sold at home. Few Indian deep-tech hardware firms scale revenue this fast. The risk sits in the gap between a growing top line and a loss that still widens. Watch FY27. If Peppermint Robotics crosses Rs 100 crore in revenue by mid-2028 and shrinks the loss too, the US bet will have paid off. If only revenue moves, this stays a cash-hungry story.
By Avinash Mishra, Business Correspondent
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