The round was led by Vertex Ventures SEA & India to build its on-demand cloud manufacturing platform. The company also saw participation from several industry leaders and angel investors.
Mumbai, India, 12 January, 2021 — Karkhana.io, a B2B on-demand manufacturing platform, announced its seed round financing of USD1.5 million led by Vertex Ventures Southeast Asia & India (Vertex Ventures SEA & India). With this funding, Karkhana.io aims to fuel further growth and establish their technology platform to meet the burgeoning demand for custom manufacturing in India’s manufacturing industry.
Founder and CEO, Sonam Motwani said, “Finding the right manufacturing vendor is a tedious and time-consuming process. The industry is still highly fragmented. There is no easy way to figure out which manufacturing process to go for, where to manufacture, and what is a fair price to pay, etc. We want to change this so that new products can go from prototyping to production seamlessly at a much quicker pace.”
Established in June 2018, Karkhana.io aims to digitise and streamline the manufacturing industry in India. The platform’s mission involves working with various types and sizes of manufacturers throughout the country and alleviating pain points that are prevalent across the supply chain: coordinating production and delivery for multiple small parts, delays, inconsistency in quality, lack of transparency, etc.
The young start-up enables building cutting edge technology in India – from deep-sea underwater robots to satellite and rocket for outer space to components for electric vehicles, IOT and FMCG industries.
“Manufacturing is one of the largest sectors in India but suffers from extreme inefficiency and capacity underutilization. Through its online platform, Karkhana.io is well placed to disrupt the status quo and enable production processes which are simpler, faster and more transparent. Sonam brings tremendous expertise in her field, and we are excited to partner with Sonam and Karkhana.io in building the next generation of manufacturing services for India and the world” said Kanika Mayar, Executive Director at Vertex Ventures SEA & India.
Notwithstanding the fact that 2020 was a somewhat lacklustre year for the manufacturing space in India, Karkhana.io’s business model helped them break out as they added new clients and continued to scale the team as well as revenues through the year.
Source: Business World
