Techiexpert.com
No Result
View All Result
  • Tech
  • Startup
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Tech
  • Startup
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
No Result
View All Result
Techiexpert.com
No Result
View All Result

Fabheads raises Rs 8 Crore Pre-Series-A funding round led by IPV

Srikanth by Srikanth
May 19, 2021
in Startup news
0
Fabheads raises Rs 8 Crore Pre-Series-A funding round led by IPV 1
11
SHARES
138
VIEWS
Share on FacebookShare on Twitter

Fabheads, a Chennai-based startup focused on automated manufacturing in the carbon fiber (and other composites) space, has raised Rs 8 crore in a Pre-Series A round led by Inflection Point Ventures, one of India’s largest angel investment platforms in India. Existing investors Keiretsu (Chennai Chapter) and Mr. Vijay Kedia also participated. The funds raised will be utilized in strengthening R&D team, build global sales and distribution and setting up infrastructure to support growth.

Ankur Mittal, Co-Founder, Inflection Point Venture says, “Fabheads is a deep-tech startup which has built proprietary technology that can compete with the best in the world in a space dominated by only few large well-funded startups / publicly listed companies and where the use cases have the potential to grow exponentially in the near future. With the founders’ background from ISRO, we believe their expertise in robotics and 3D technology will help the company grow faster. Our network and the funds raised will help them achieve their ambition to scale across the world.”

Fabheads developed India’s first 3D printer capable of printing with continuous fiber materials. It is also the winner of the National Award for Technology Startups (2021) by the Department of Science and Technology, National Startup Awards (2020) in the 3D Printing Category by Startup India, DRDO’s DaretoDream Award (2019), JEC’s Outstanding Innovation in composites award (2018) and the Top Startup in Manufacturing (2018) by CII.  

Currently, the startup is offering design and manufacturing services to drones, robotics, and shipping companies across India. A few of its portfolio companies are E-plane Company, Synergy Marine, Planys and ADA (Aeronautical Development Agency). It has also onboarded a couple of Singapore clients and recently started pilot operations across Asia.

Dhinesh Kanagaraj, Founder & CEO, Fabheads and ex-ISRO engineer says, “IPV is one of the few investors who see the value in deep tech hardware startups. IPV team took great efforts towards understanding our offerings and have also gone beyond that by already adding value to Fabheads by making extremely relevant connections via their large business network across India and the Middle East.”

The biggest value addition made by Fabheads to their clients is offering the flexibility to use their in-house certified raw materials. This factor is of extreme importance in the biomedical and aerospace industries as the clients go through decades of research to certify their materials.

Fabheads serves a large carbon fiber parts market which is a global market of $60 Billion with an annual CAGR of 14%. The Indian market alone is $5 Billion. Carbon fibers are used to make several high-performance parts from tennis racquets to rockets having applications across Sports, Automotive, Wind Energy Sector, Shipping, Aerospace, etc. and Fabheads plans to slowly expand into more sectors and geographies down the line.

Tags: Chennai startupsFabheadsFunding News
Share4Tweet3Share1Pin2

Popular Sections On Techiexpert

5G AI News AI Services AI Startup AI usecases Amazon Bangalore startups BigData analytics Business Chatbots cloud services CryptoCurrency custmer experience Cybersecurity Data privacy Delhi startups digital marketing digital payments eCommerce Electric Vehicles Facebook Fintech Fintech startups Funding News Google Healthcare Inflection Point Ventures Instagram IOT services Marketing strategy Microsoft Mobile Apps Mobile Tech Mumbai startups Press Release Robotics Saas search engine optimization Smartphones startup stories Tech Stories Tech Trends Virtual Reality Voice assistants WhatsApp

Latest Stories on Techiexpert

Report Reveals Cloud Infrastructure as Top Cyber Risk for Indian Businesses

Report Reveals Cloud Infrastructure as Top Cyber Risk for Indian Businesses
Share4Tweet3Share1Pin1

Spade Secures $10M to Revolutionize Merchant Data Accessibility for Card Issuers

Spade Secures $10M to Revolutionize Merchant Data Accessibility for Card Issuers
Share4Tweet3Share1Pin1

Gujarat Sports Startup Conclave Reveals Top 7 Finalists

Gujarat Sports Startup Conclave Reveals Top 7 Finalists
Share4Tweet3Share1Pin1
  • Privacy Policy
  • About Us
  • Contact us
  • Cookie Policy
  • Write For Us
  • Newsletter

© 2016-2022 All Rights Reserved

No Result
View All Result
  • Tech
  • Startup
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain

© 2016-2022 All Rights Reserved

Cookie Law Notice
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
SAVE & ACCEPT
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.