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ARAPL Unveils India’s First AGV-Based Robo Parking

ARAPL Unveils India's First AGV-Based Robo ParkingAffordable Robotic and Automation Limited has announced its foray into machine shop automation with two power train robots. These 3-axis automated solutions will be piloted in December 2023 and generate an expected INR 40 crore in FY 2025 revenue for the new business line. ARAPL will also claim a 40% compounded annual growth rate for the fiscal year 2023.

ARAPL has collaborated with its subsidiary ARAPL RaaS to develop India’s first mobile robotic multi-level car parking system using automated guided vehicles. The advanced parking solution will roll out in December 2023 to set a new standard for efficient parking.

ARAPL also announced a rights issue to raise INR 48 crore to fund the new growth initiatives and boost working capital. INR 38 crore will be allocated to the ARAPL RaaS growth fund, while INR 10 crore will support ARAPL’s Working capital needs.

Mukund Shah, CEO of ARAPL, said, “We are delighted to introduce India’s first robotic car parking system. This will be the first of its kind in India. Moreover, our machine shop automation vertical will power our efforts in the sector of robotic automation. These initiatives will ensure a successful 2024.”

In 2023, ARAPL added 60,000 square feet of new production capacity to meet expansion goals. Buoyed by 135% year-over-year revenue growth in the first half of 2023, the company strategically invests to sustain rapid growth.

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Abdullah Ansari

Journalism graduate with a flair for technology and electric vehicles, dedicated to crafting insightful articles that bridge innovation and communication. Passionate about shaping narratives in the fast-evolving world of tech.

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