Carbon-fiber startup Fabheads has secured Rs 8 Crore in a pre-Series A round led by Inflection Point Ventures. The round also saw participation from existing investors Vijay Kedia, MD, Kedia Securities and Keiretsu (Chennai chapter).
“The funds raised will be utilised in strengthening R&D team, build global sales and distribution and setting up infrastructure to support growth,” the company said in a statement.
Ankur Mittal, Co-Founder of Inflection Point Venture, said, “Fabheads is a deep-tech startup which has built proprietary technology that can compete with the best in the world in a space dominated by only few large well-funded startups / publicly listed companies and where the use cases have the potential to grow exponentially in the near future. With the founders’ background from ISRO, we believe their expertise in robotics and 3D technology will help the company grow faster. Our network and the funds raised will help them achieve their ambition to scale across the world.”
“IPV is one of the few investors who see the value in deep tech hardware startups. IPV team took great efforts towards understanding our offerings and have also gone beyond that by already adding value to Fabheads by making extremely relevant connections via their large business network across India and the Middle East,” added Dhinesh Kanagaraj, Founder & CEO – Fabheads.
