Fintech startup Aurm raised ₹42 crore in a Series A led by Earth Fund and Sattva Ventures to scale automated locker vaults inside residential complexes, office campuses and select bank branches. It says fewer than 20% of Indian bank branches offer locker services due to real estate and security costs. Aurm claims it cut setup costs by about 25% while offering 24/7 access and multi-layer security.
Axis Bank has opened its first digital locker-focused branch in New Delhi, using automated locker services to improve security and the customer experience. The move targets rising demand for safe deposit lockers in urban areas, where concerns about access and safety are growing. Industry estimates suggest locker requirements could surge significantly by 2030.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
