Funding Alert

Arkam Ventures and Susquehanna Asia VC lead Karkhana.io’s $6.3M Series A fundraising

• ByStartupStory     |    January 9, 2024

Custom manufacturing platform Karkhana.io has successfully raised $6.3 million in a Series A funding round spearheaded by Arkam Ventures and Susquehanna Asia Venture Capital. Additionally, Vertex Ventures Southeast Asia and India, an existing investor, contributed to the round. The injection of funds is designated to bolster the company’s supplier network expansion, establish an electronics supply chain, and facilitate scaling operations across the United States and Europe.

“Our investors’ trust underscores our commitment to revolutionise manufacturing through technology, offering flexible and scalable solutions. We want to create a significant impact in sectors with expansive growth potential, addressing surging demand and propelling Karkhana.io to redefine the landscape of the Indian manufacturing industry,” emphasized Sonam Motwani, Founder and CEO of Karkhana.io.

Karkhana.io’s tech-driven platform caters to original equipment manufacturers (OEMs) and technology companies by providing sourcing and contract manufacturing solutions. The company collaborates with OEMs in sectors like electric vehicles, medical equipment, consumer electronics, and aerospace, leveraging its network of manufacturing MSMEs in India.

“While there is a surge in domestic and international demand from OEMs, most small suppliers are poorly equipped to tap into new order flows, market their capabilities, and find ways to maximise their capacity utilisation. We were attracted to a strong Karkhana.io team that provides a differentiated technology platform addressing these challenges while enabling a much-needed layer of trust and quality,” stated Bala Srinivasa, Managing Director at Arkam Ventures.

Established in 2018, Karkhana.io simplifies contract manufacturing across various product categories, spanning from small to large-scale operations and encompassing product assembly to localisation. Their digital platform tackles procurement challenges by offering a single dashboard, connecting companies to verified suppliers regardless of size, thereby overcoming manufacturing inefficiencies.

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