IoT smart lock brand Ikin Global raises $1 million in funding

Ikin Global, an IoT smart lock brand created by SectorQube, has raised $1 million in a pre-Series A funding round led by Unicorn India Ventures and Callapina Capital.

The round also saw participation from existing investors.

Ikin Global's offerings 

Ikin Global is a provider of smart security solutions for the logistics, retail, and warehousing sectors.

The company claims to have an order book of 20,000 smart locks with a revenue target of Rs 30 crore from the smart locks business in the logistics sector. 

Notably, it has also launched new smart products like Portable iSeals with a 1-year battery life, replacing one-time-use plastic seals for containers and Smart GPS Truck Lock with advanced sensors for intrusion detection.

"Our talented tech team has developed smart locks with advanced sensors that secure not just truck doors and shutters but the entire cargo or facility. We're excited to expand our reach to the US, Europe, and Middle Eastern markets, bringing our solutions to more companies worldwide," said Nibu Alias, Co-founder and CEO of SectorQube.

Purpose of fundraising

The startup plans to use the raised capital to enhance the current product line with new launches that would offer AI-powered analytics, advanced sensor technology and industry-specific solutions.

In addition to the new launches, Ikin will also be expanding its team presence across key geographies including India, US and Europe to bolster its sales, marketing, operations, and support teams.

It also plans to increase its production capacity to streamline with growing demand coming from the logistics sector.

“SectorQube is addressing a major supply chain and warehousing challenge. As our world increasingly moves online, there is a huge demand from e-commerce and logistics companies to secure shipments whether on the move or stored in third party warehouses. Integrating IoT and AI is a strategic move towards deep tech applications, which will further broaden Ikin’s horizon as they look to enter large international markets," said Anil Joshi, Managing Partner, Unicorn India Ventures.

"SectorQube’s Ikin Smart Locks are purpose-built to meet these demands, offering real-time tracking, tamper alerts, and remote access control—all critical for secure, efficient operations in warehousing, transportation, and last-mile delivery. The investment is further strengthened by the team’s unique capabilities: a proven track record in product design and a decade-long partnership during which they developed multiple original products. SectorQube embodies the spirit of ‘Make in India’ with a world-class solution ready for a global stage, and we’re confident they are positioned to redefine security standards in the logistics industry," added Vinod Jose, Managing Partner Callipina Capital.