Thingsup funding


Pune-based iobot announced on Tuesday that it had raised $100,000 from GSF Accelerator, backed by founders including Rajesh Sawhney, Founder and CEO of GSF Accelerator; Pras Hanuma, CEO of Infoquest; Dinesh Agarwal, CEO of Indiamart; and J. Murugavel, CEO of Matrimony.com. 

iobot said the funds will be utilized to address the increasing demand for digitalizing the cold chain logistics, the market for which is swiftly growing due to the ongoing pandemic. 

Founded in 2020, Thingsup is a low-code, SaaS-based platform that comes with ready-to-use wireless IoT sensors and empowers businesses to digitalize their complete supply chain operations within a few days, instead of months. 

iobot was established in 2016 by Akshay Ghadage and Pranav Naiknavare.

Commenting on the investment, Pranav said, “The global cold chain and asset monitoring needs are growing exponentially to maintain shipment quality and operational optimization. Thingsup is today ready to meet this demand and this investment will go a long way in helping us scale up and reach more clients.” 

“Thingsup’s wireless sensor nodes are specifically designed for package health monitoring and enable individual-level package health monitoring possible and economically viable at scale. The platform includes dedicated modules for asset monitoring, fleet management, real-time temperature monitoring, and shipment Integrity monitoring. The startup already counts a diverse clientele from sectors like dairy, F&B, healthcare, and e-groceries,” he added. 

“With Thingsup, we are helping businesses continually track the condition of their assets and have real-time and journey-wise status of packages, using easy to deploy IoT sensors and a powerful analytics platform,” said Akshay Ghadage, Cofounder, iobot.


Speaking about the development, Rajesh Sawhney, Founder and CEO, GSF Accelerator, said, “The iobot team has built a fantastic low-code IoT platform in Thingsup and the feedback from their customers universally underlines the tremendous business value that their platform is already delivering. We are really excited to partner with them and are confident that they are going to be among the biggest IoT success stories to emerge from India in the months and years to come.” 

Established in 2012, GSF is one of India’s technology accelerators, with a portfolio including Whatfix, Slintel, Quizizz, Docsapp, Flinto, Citymall, Gamezop, Well Being, Zen Duty, Khabri, and Vaultedge. 

The accelerator has also had numerous successful exits, including Little Eye Labs (acquired by Facebook), Dailyrounds (bought by M3 Japan), and Pokkt (acquired by Anymind, Japan) among others.

Thingsup has emerged as an amazing IoT platform and will lead the segment under the expertise of its founders.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at taniya@startuplanes.com