Ikin Global, a brand specialising in IoT smart locks, has raised $1 million in a Pre-Series A funding round led by Unicorn India Ventures and Callapina Capital. Existing investors also participated in the round. The funds will be used to enhance product offerings, expand the team, and scale production, according to a company statement.
The Kochi-based company plans to launch new products with AI-powered analytics and advanced sensor technology. These innovations aim to address specific challenges in the logistics sector. It also plans to strengthen its presence in India, the United States, and Europe by expanding sales, marketing, and support teams.
Over the past year, Ikin Global has seen significant growth, with its smart locks securing 2,500 trucks and 1,500 facilities, including warehouses and retail outlets. The company has an order book of 20,000 smart locks and is targeting ₹30 crore in revenue from its logistics-focused products.
Anil Joshi, Managing Partner at Unicorn India Ventures, said the company is tackling critical supply chain and warehousing challenges. “As e-commerce and logistics grow, there is an urgent need to secure shipments, whether on the move or stored in warehouses,” he said. Joshi added that the integration of IoT and AI would help the company expand globally.
Ikin Global has introduced Portable iSeals with a one-year battery life, aimed at replacing single-use plastic seals for containers. It has also developed GPS-enabled truck locks with advanced intrusion detection sensors. These products are designed to enhance security and operational efficiency in logistics.
Highlighting the potential of the logistics sector, which is projected to reach $380 billion in India by 2025, Vinod Jose, Managing Partner at Callapina Capital noted that the company’s solutions address critical issues like theft, tampering, and inefficiencies through real-time tracking, tamper alerts, and remote access control.
Nibu Alias, Co-founder and CEO of SectorQube, said the company aims to become a leader in smart lock solutions for logistics and warehousing. “Our technology-driven solutions protect valuable assets and minimise losses during transit and storage,” he said.
The company also plans to expand into the United States, Europe, and the Middle East, bringing its IoT-enabled products to international markets. The funding, according to Ikin Global, marks a step forward in redefining logistics security standards through advanced technology.
