The funds raised will be used for building global sales, strengthening the R&D team, setting up infrastructure, and distribution network to support the growth of the platform.
Chennai-based manufacturer of carbon fiber named Fabheads has raised INR 8 crore in a pre-Series A funding from Inflection Point Ventures, the company said. Existing investors Vijay Kedia, MD, Kedia Securities, and Keiretsu also participated in the round.
The funds raised will be used for building global sales, strengthening the R&D team, setting up infrastructure, and distribution network to support the growth of the platform. Presently, Fabheads offers manufacturing and design to robotics, drones, and shipping companies across India. A few of the companies under its portfolio are Synergy Marine Plants, E-plane Company, and Aeronautical Development Agency.
The company has expanded to other Asian markets after acquiring clients in Singapore. It uses its customers’ certified raw materials, which is necessary for companies in the aerospace and biomedical space as their raw materials are certified after extensive research.
Source: Business World
