Fabrication Bazar Raises Over INR 7 Crore Seed Fund The fund raised will be utilized towards expanding the team, technology enhancement and scaling the operations to the export market
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Fabrication Bazar has raised over INR 7 crore in a Seed funding round led by Inflection Point Ventures. The fund raised will be utilized towards expanding the team, technology enhancement and scaling the operations to the export market.
"We are empowering micro and small steel fabricators by driving the demand from large, process-driven corporates. The journey is challenging and turbulent. In IPV, we found not only an early investor but a partner and a guide to bring more clarity towards the critical path," said Dwaipayan Dutta, founder and CEO, Fabrication Bazar.
The company have supplied to over 300 customers in domestic and international markets and have often had customers come back with larger ticket size repeat orders. It has grown 165 per cent in FY22 with a confirmed order booking of INR 130 crore for FY23, claimed by the company in a statement.
"This unique platform, which aims to serve end customers and streamline the sector in every possible way, has already grown 165 per cent in FY22 with a confirmed order booking of INR 130 crore for FY23. Such high-quality standards and impeccable solutions have led IPV to invest in the company and support them in their future endeavors," said Ankur Mittal, co-founder, Inflection Point Ventures.
Founded in 2016, Fabrication Bazar deals with the manufacturing of pre-fabricated steel products and specializes in designing and installing techniques for the project. It took a pivot from asset-heavy to asset-lite model using technology post-covid.
As per reports, the industry is highly unorganized with many small fabricators as vendors on one side and large process-driven corporates as customers on the other side. With 300 million tonnes of projected steel production by 2030, India will be the second-largest steel producer globally with competitive costing.