Carbon-Fiber Startup Fabheads Raises Additional Funds In Its Pre-Series A Round
- ByStartupStory | August 3, 2021
Chennai-based deeptech startup Fabheads, which manufactures carbon fiber parts, has raised further funds as an extension of its pre-Series A funding round. After raising Rs. 8 crore a few months back from Inflection Point Ventures and existing investors, the startup has raised additional undisclosed amounts from Rockstud Capital, FirstPort Capital, and Bliss Flow Investments Pvt Ltd. “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,” said Dhinesh Kanagaraj, CEO and Founder of Fabheads.
Fabheads develops automated manufacturing technologies specific to the carbon fiber part in the manufacturing sector. The startup has been recognised for its innovative work by various agencies including DIPP, DRDO, MoD, and CII among others. As per the startup, the carbon fiber industry has been seeing an immense growth in the last two decades across new sectors like Biomedical, Shipping, Auto, etc., besides Aerospace and Defence, where they still dominate a huge presence. “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,” added Abhishek Agarwal, Managing Partner of Rockstud Capital.
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