Kochi based Ikin Global, an IoT smart lock brand by SectorQube, has raised $1 million in a pre-Series A round led by Unicorn India Ventures and Callapina Capital.

Funds raised will be used for enhancing the current product line with new launches that would offer AI-powered analytics, advanced sensor technology and industry specific solutions, said a press release.

Ikin will also be expanding its team presence across key geographies, including India, US and Europe to boost sales, marketing, operations, and support teams. The company also plans to increase its production capacity to streamline with growing demand coming from the logistics sector.

Boost for growth

Ikin Global has been growing over the last 12 months, giving SectorQube a boost to enter international markets. It has been instrumental in securing 2,500 trucks and 1,500 facilities including large warehouses, vaults and retail shops.

Ikin has an order book of 20,000 smart locks with a revenue target of ₹30 crore from smart locks business in the logistics sector. It has also launched new products like portable iSeals with a 1-year battery life, replacing one-time-use plastic seals for containers and smart GPS truck lock with advanced sensors for intrusion detection.

Anil Joshi, Managing Partner, Unicorn India Ventures, said “As a fund, with nearly 10 years of investing track record in India, we have a clear thesis on AI and IoT applications-led businesses and we believe SectorQube’s growth trajectory will be accelerated as they enter new markets and strengthen their leadership positioning in the Indian market.”

Meeting demands

Vinod Jose, Managing Partner of Callipina Capital said, “The logistics sector, fuelled by rapid growth in e-commerce, urbanisation , and supply chain digitisation, is on track to reach $380 billion in India by 2025. However, this expansion has also amplified challenges around asset security, real-time tracking, and operational control, with rising incidents of theft, tampering, and logistical inefficiencies. SectorQube’s Ikin smart locks are purpose-built to meet these demands”.

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