Mumbai-based IoT smart lock startup Ikin Global has raised $2 million in a Pre-Series A2 funding round led by Unicorn India Ventures, Callapina Capital, and AWE Funds. The fresh capital will be used for expansion across the US, Europe, and West Asia, product development, team growth, and scaling manufacturing and field operations. Founded in 2012 by Nibu Alias, Ikin Global, a brand of SectorQube Technolabs, develops IoT-enabled smart locks and bolt seals for supply chain and logistics companies. Its products offer real-time tamper detection, geo-fencing, mobile-based access control, and audit trails to secure cargo movement. The company counts Amazon, Swiggy, Flipkart, Zepto, Blue Dart, Licious, Sequel Logistics, Nesto, and Syngenta among its customers. Over the past year, Ikin increased its deployment from 2,500 trucks to 10,000 trucks and recorded more than 5 million lock and unlock cycles. The company has also completed pilot projects with customers in the US, UAE, and UK. Alongside the fundraise, Ikin launched two new products: iBS Pro, a reusable smart bolt seal, and Smart GPS Truck Lock (iTSS), a fixed smart lock equipped with AI-based intrusion detection capabilities. According to founder and CEO Nibu Alias, the company plans to obtain market-specific certifications, introduce edge-computing-enabled locks, and expand into sectors such as oil and gas, defence logistics, cold chain, mining, ocean freight, railway cargo, and cash management over the next 12 to 18 months. The startup also aims to strengthen its sales and after-sales operations across India, the US, and the UK. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
