26 March 2024 – Arapl RaaS has recently obtained funding worth Rs 38 crore from its parent company ARAPL, as part of a larger rights issue totaling Rs 48 crore. This substantial investment reflects ARAPL’s strong support for the growth and advancement of its subsidiary.
The injected capital is designated to propel Arapl RaaS into the revenue generation phase, particularly focusing on penetrating the lucrative USA market. A significant portion of the funds will be channeled towards enhancing working capital and refining the company’s technology infrastructure.
Robinson Philipose, CEO of ARAPL RaaS, expressed gratitude for the successful fundraising, emphasizing the team’s renewed determination to achieve success. The investment aims to bolster expansion efforts, with a key objective being the penetration of the USA market through the appointment of sales personnel and deployment engineers. Arapl RaaS has already secured trial and purchase agreements valued at $3 million, with discussions ongoing with potential clients.
In a move to enhance its technological capabilities, Arapl RaaS has appointed a new Chief Technology Officer (CTO) with extensive experience in autonomous vehicles and Advanced Driver Assistance Systems (ADAS). The newly appointed CTO, previously serving as Chief Architect at a renowned technology firm specializing in autonomous vehicles, is poised to lead the company towards innovation and excellence.
Under the new CTO’s guidance, Arapl RaaS will focus on developing indigenous software modules for navigation, Simultaneous Localization and Mapping (SLAM), perception, Warehouse Management System (WMS), and fleet management. The establishment of a dedicated tech development office in Gurgaon, housing a 30-member strong team led by the CTO, further underscores the company’s commitment to technological advancement.
Milind Padole, Managing Director of ARAPL, expressed confidence in Arapl RaaS’s potential to lead the autonomous vehicle and robotic solution space. With a focus on driving innovation and exploring opportunities in the defense sector, Arapl RaaS is poised to redefine the future of mobility and automation.
