Peppermint Robotics raises ₹100 crore, and the US already brings in half its revenue

pi Ventures and Crane Venture Partners have co-led a ₹100 crore (about $10.5 million) pre-Series B round in Peppermint Robotics, a Pune startup that builds autonomous floor scrubbers and material-handling robots for factories, warehouses and hospitals, Inc42 and CIOL reported on Nov. 4. Asiana Fund joined. The round mixes new capital with secondary share sales; founder Runal Dahiwade told Inc42 most of it is primary.

Peppermint is an Indian company whose business is turning American, and this money follows it there. The US brings in nearly half its revenue and India close to 30%, Dahiwade told Inc42, and the plan adds a North American assembly line to the Pune factory. The prices explain the pull: an average robot sells for about ₹20 lakh in India and for $35,000 to $40,000 in the US. Operating revenue rose from ₹6.26 crore in FY24 to ₹21 crore in FY25, and the company says it grew nearly sixfold from FY24 to FY26, which puts FY26 a little under ₹38 crore. It also wants work beyond cleaning: its scrubber-dryer passed qualification testing in an EU GMP Grade C cleanroom, and the lineup now includes three material-handling models.

The case against is in Inc42's numbers. Peppermint says its core business has been profitable for several quarters, but R&D and overseas expansion keep the company loss-making, and after shipping disruptions and geopolitics hit its outlook, it expects to miss its ₹100 crore revenue target for this financial year. It now aims to cross that mark in the 12 months after.