Peppermint Robotics, a Pune-based maker of autonomous floor-cleaning and material-transportation robots, raised Rs 100 crore (about $10.5 million) in a pre-Series B round announced on November 4. The round was led by pi Ventures and Crane Venture Partners, with participation from Asiana Fund, and follows a Rs 34 crore Series A the company closed in April 2025.
How fast is Peppermint actually growing?
The company says revenue grew nearly sixfold between fiscal 2024 and fiscal 2026, and doubled year over year most recently. Founded in 2019, Peppermint now operates in nine countries, with the United States emerging as its largest market. Its robots are deployed across factories, hospitals, airports, malls, warehouses, hotels, universities and pharmaceutical cleanrooms, and the company says its cleanroom-grade units are qualified to EU GMP standards.
Why is a $10.5 million round significant in this market?
Commercial cleaning and floor-care robotics is a crowded field globally, with established players like Tennant and Brain Corp already selling into retail and institutional accounts. Peppermint's pitch is vertical integration — it builds its own hardware, software and perception stack in-house, using computer vision and LiDAR, and offers offline operation for security-sensitive sites that can't connect devices to external networks. That matters for customers like hospitals and government facilities where data-residency rules can rule out cloud-dependent competitors outright.
What will the money actually fund?
Peppermint plans to spend the capital across five areas: research and engineering, manufacturing expansion, North American operations, broader global market expansion, and hiring senior leadership and engineering talent. Notably, the company intends to set up an assembly line in North America in the coming months — a move that would let it build closer to its largest market rather than exporting from India, likely shortening lead times and insulating it from shipping and tariff volatility.
What comes next for Peppermint?
The company is also developing a next-generation cleanroom robotics line, suggesting it wants to push further into pharmaceutical and semiconductor manufacturing environments where contamination control commands a premium over general commercial cleaning. With revenue scaling quickly and a North American plant in the works, the pre-Series B round looks like a bridge to a larger raise once US manufacturing is running — the kind of step-up financing pattern common among hardware startups moving from regional traction to global scale.