ARAPL Announces India’s First Robotic Car Parking System Using AGVs

Source: ARAPL

“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.” - Mukund Shah, CEO, ARAPL

December 2023 : Affordable Robotic and Automation Limited (ARAPL) has recently 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 ₹ 40 crore in FY 2025 revenue for the new business line. ARAPL will also claim a 40 percent 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 ₹48 crore to fund the new growth initiatives and boost working capital. ₹38 crore will be allocated to the ARAPL RaaS growth fund, while ₹ 10 crore will support ARAPL’s Working capital needs.

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