Fabheads Concludes Its Pre-Series A Round Of Funding
The funds raised will be used towards marketing, supply chain enhancement, and scale up operations
Carbon-fiber-focused 3D printer startup Fabheads announced on Tuesday that it has raised further funds as an extension of its Pre-Series A funding round.
After raising INR 8 crore just a couple of months back from Inflection Point Ventures and existing investors, the company 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, chief executive officer and founder, Fabheads.
Fabheads develops automated manufacturing technologies specific to the carbon fiber part manufacturing sector.
"We see tremendous scope in the carbon fiber space with its awareness only growing every year with multiple use cases, especially, across electric vehicles, unmanned aerial vehicles, defense, oil and 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, Rockstud Capital.
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 defense, where they still dominate a huge presence, the company shared in a statement.