Carbon-fiber startup Fabheads raises Rs 8 crore in pre-Sequence A funding spherical
“The funds raised will likely be used for strengthening the R&D staff, constructing world gross sales and distribution community and organising infrastructure to help the expansion of the corporate,” mentioned Fabheads, which has developed India’s first 3D printer able to printing with steady fiber supplies.
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At the moment, Fabheads presents design and manufacturing providers to drones, robotics and delivery firms throughout India. A couple of of its portfolio firms are E-plane Firm, Synergy Marine Vegetation and Aeronautical Growth Company.
“Carbon fiber elements, be they for tennis racquets or race automobiles or rockets, are nonetheless predominantly manufactured with a number of days and even weeks of intense guide labour. Fabheads goals to automate this sector in phases within the coming years. The FibrBot sequence of machines already launched by Fabheads are solely step one in the direction of that,” mentioned Dhinesh Kanagaraj, founder and CEO of Fabheads and a former engineer with the Indian House Analysis Organisation (ISRO).
The corporate has expanded to different Asian markets after having gained shoppers in Singapore, it mentioned. It makes use of its clients’ in-house licensed uncooked supplies, which is vital for firms within the biomedical and aerospace industries as their uncooked supplies are licensed after a long time of analysis.
Globally, the carbon fiber elements market stands at $60 billion with a compounded annual development price (CAGR) of 14%. The Indian market alone is $5 billion, the corporate mentioned.
“We consider that Fabheads is at an inflection level the place they’ve developed cutting-edge tech that may be launched in a number of industries concurrently, similar to protection, medical and aerospace. The use instances are solely going to multiply probably, resulting in exponential development in the long term,” mentioned Ankur Mittal, co-founder, Inflection Level Ventures.
For early-stage investor IPV, Fabheads is their fifteenth funding up to now this 12 months. The fund has invested Rs 41.65 crore throughout these offers and intends to speculate as much as Rs 150 crore on this calendar 12 months.