Mekr Raises INR 5.8 Crore In Seed Funding
The fund raised will be utilized in strengthening sales, supply chain, tech and project management team and working capital requirements
Mekr, one stop source for electronics product manufacturing, has raised INR 5.8 crore in Seed funding led by Titan Capital and Better Capital. The funding round also witnessed participation from 2AM VC. The fund raised will utilized in strengthening sales, supply chain, tech and project management team and working capital requirements.
"People often have a pre-conceived notion that it is not possible to beat China product costings. However, this is not true in reality. At Mekr, for all our projects, we have been able to match China pricing while delivering great product quality and a seamless manufacturing experience," said Gaurang Kuchhal, co-founder and CEO, Mekr.
As per company statement, Mekr is currently working for many leading organizations across industries ranging from EV, fintech, telecom, IOT, agritech and home appliance industries to fulfil their hardware product manufacturing requirements. The company has a complete ecosystem for electronic product manufacturing like facilities for manufacturing of plastics, PCBAs, Metal, China sourcing and strong R&D team.
"Today electronics import comes second only after oil in India. It is very surprising that we have so much dependence on imports for electronics. India can make most of its due to its favorable conditions like manpower-talent, electricity rate, land availability, domestic market size and government policies and support. Companies like Mekr will be pivotal in strengthening the Indian manufacturing ecosystem and making most of the manufacturing wave," said Bipin Shah, partner, Titan Capital.
Mekr works with its network of manufacturing partners, works on integration of different parts like software, plastics, electronics seamlessly delivers complete product to the customer. Having experienced the manufacturing challenges first hand, they realized the difficulties in taking proof of concept projects to mass manufacture real products which are used by consumers.
"Mekr is building Aatmanirbhar manufacturing platform of India to empower domestic product companies of all sizes with quality, scaling and price economics to compete with global competitors for the domestic as well as global markets. We are fortunate enough to be the founding stage partner for Mekr, as the team build an important piece of the puzzle for leapfrogging Indian companies towards manufacturing leadership," said Vaibhav Domkundwar, Better Capital.