Deals20 Feb 2025, 05:17 pm
ARAPL Subsidiary Commences Deliveries of Autonomous Electric Vehicles in US, Eyes European Markets
AI Summary
Affordable Robotic and Automation Limited (ARAPL) announced that its subsidiary ARAPL RaaS has started delivering autonomous electric vehicles to warehousing clients in the USA. The company aims to account for significant revenues from the US market, which is a $300 billion warehousing automation sector opportunity. ARAPL RaaS has an order book of $4 million and is targeting the European markets as well. The company posted a growth of 38% in its consolidated revenues and 34% on a standalone basis in Q3FY25, turning EBITDA positive. ARAPL RaaS is transforming warehouse automation with its innovative Robot-as-a-Service (RaaS) platform.
Key Highlights
- ARAPL subsidiary commences deliveries of autonomous electric vehicles in the US
- US market to account for significant revenues, eyeing a $300 billion opportunity
- Total order currently stands at Rs. 224 crore or $4 million
- Posted robust Q3FY25 numbers with 34% increase in revenues
- Plans to foray into European markets