Carbon-fibre focused 3D printer startup, Fabheads announced that it has raised further funds as an extension of its Pre-Series A funding round.
After raising INR 8 Cr just a couple of months back from Inflection Point Ventures and existing investors, the Company has raised additional undisclosed amount from Rockstud Capital, FirstPort Capital, and Bliss Flow Investments Pvt Ltd.
Fabheads develops automated manufacturing technologies specific to the carbon fiber part manufacturing sector. Having developed the first and only such product of this kind in India, the Company has been recognised for their innovative work by various agencies including DIPP (National Startup Award 2020 by Startup India), DRDO (Dare to Dream Innovation Award 2019), MoD (Trailblazers of Indian Aerospace – Aero India 2019), JEC Media (Outstanding Innovation in Composites 2018), CII (Top Startup in Manufacturing – 2018), among others.
Dhinesh Kanagaraj, CEO & Founder of Fabheads, said, “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”.
Carbon fiber industry has been seeing significant growth in last two decades across new sectors like Biomedical, Shipping, Auto, etc besides Aerospace and Defence, where they still dominate a huge presence.
Abhishek Agarwal, Managing Partner of Rockstud Capital, said, “We see tremendous scope in the carbon fibre space with its awareness only growing every year with multiple use cases, especially, across electric vehicles, unmanned aerial vehicles, defence, oil & gas, renewable energy, aeronautics, electronics, and host of other sectors. Fabheads, with its excellent technical capabilities, is well placed to benefit from it.”
Last week, Rockstud Capital had announced investment in Knorish, an edtech startup marking their 3rd investment in 2021. It is one of the unique hybrid funds in India, which invests both in listed equity markets as well as startups. In case of startups, it invests at Pre-Series A stage with focus on sectors like enterprise-tech, fintech, healthtech, agritech, edtech, mobility, and consumer brands.