Chennai-based carbon-fibre focused 3D printer startup Fabheads has announced it has raised further funds as an extension of its pre-Series A funding round.
After raising Rs 8 crore just a couple of months back from Inflection Point Ventures and existing investors, the startup has raised additional undisclosed amounts from Rockstud Capital, FirstPort Capital, and Bliss Flow Investments Pvt Ltd.
“The funds raised will be used towards our marketing, supply chain enhancement, and scale up operations. We are fortunate to have these new investors with good industry experience backing us up, who I am sure will be instrumental in our next step of this journey,” said Dhinesh Kanagaraj, CEO and Founder of Fabheads.
Fabheads develops automated manufacturing technologies specific to the carbon fiber part in the manufacturing sector. The startup has been recognised for its innovative work by various agencies including DIPP, DRDO, MoD, and CII among others.
As per the startup, the carbon fiber industry has been seeing significant growth in the last two decades across new sectors like Biomedical, Shipping, Auto, etc., besides Aerospace and Defence, where they still dominate a huge presence.
“We see tremendous scope in the carbon fibre space with its awareness only growing every year with multiple use cases, especially, across electric vehicles, unmanned aerial vehicles, defence, oil & gas, renewable energy, aeronautics, electronics, and host of other sectors. Fabheads, with its excellent technical capabilities, is well placed to benefit from it,” added Abhishek Agarwal, Managing Partner of Rockstud Capital.
Last week, Rockstud Capital had announced investment in Knorish, an edtech startup, marking their third investment in 2021. It is one of the unique hybrid funds in India, which invests both in listed equity markets as well as startups.
In case of startups, it invests at pre-Series A stage with focus on sectors like enterprise-tech, fintech, healthtech, agritech, edtech, mobility, and consumer brands.
Edited by Megha Reddy
Link : https://yourstory.com/2021/08/funding-alert-fabheads-additional-funds-pre-series-a-round
Author :- Sujata Sangwan ( )
August 03, 2021 at 10:38AM
YourStory