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ARAPL Announces India's First Robotic Car Parking System Using AGVs
Articles- Dec 13,23
These 3-axis automated solutions will be piloted in December 2023 and generate an expected Rs 40 crore in FY 2025 revenue for the new business line.
Affordable Robotic and Automation Limited (ARAPL) 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 Rs 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 Rs 48 crore to fund the new growth initiatives and boost working capital. Rs 38 crore will be allocated to the ARAPL RaaS growth fund, while Rs 10 crore will support ARAPL's Working capital needs.
"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", said Mukund Shah, CEO of ARAPL.
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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