Ikin Global, an IoT smart lock startup, has raised $2 million in a pre-Series A2 funding round led by Unicorn India Ventures, Callapina Capital, and AWE Funds, the company announced. Founded in 2012 by Nibu Alias, the startup plans to use the fresh capital to expand internationally, accelerate product development, scale manufacturing, and strengthen operations.
The startup specializes in IoT-enabled smart locks and security solutions for supply chain and logistics companies. Its patented Intelligent Logistics Vehicle Security System (ILVSS) offers real-time tamper alerts, geofencing, remote access controls, and audit trails to enhance cargo security and operational visibility. Ikin Global counts Amazon, Swiggy, Flipkart, Zepto, and Blue Dart among its customers. Over the past year, the company increased smart lock deployments from 2,500 to 10,000 trucks and recorded over 5 million successful lock and unlock cycles, according to inc42.com.
Ikin Global has also conducted trials with customers in the US, UAE, and UK as part of its international expansion strategy. Alongside the funding, the startup launched two new products: iBS Pro, a reusable smart bolt seal for cargo containers, and Smart GPS Truck Lock (iTSS), an AI-powered lock with intrusion-detection capabilities. These innovations position the company to compete in the global logistics security market, which is seeing increased demand for IoT-based solutions.
The startup aims to expand across the US, Europe, and West Asia over the next 12 to 18 months, while securing market-specific certifications and introducing edge-computing-enabled products, inc42.com reported.