Frigate Secures $1.5 Million in Seed Funding to Strengthen its B2B Cloud Manufacturing Platform
- ByStartupStory | July 5, 2023
B2B cloud manufacturing startup Frigate has successfully raised $1.5 million in its seed funding round, with Arali Ventures taking the lead. The round also saw the participation of institutional investors, including Capital A, Java Capital, and strategic angel investors.
Expanding Digital Manufacturing Ecosystem and Global Presence
The newly acquired funds will be utilized by Frigate to expand its digital manufacturing ecosystem, catering to clients worldwide. Additionally, the investment will help the company strengthen its teams both in India and globally, across various industry verticals.
Enabling Seamless Transition from Digital Designs to Physical Products
Established in 2021 by a team of founders including Tamizhinian Vasanthan, Iniyavan Vasanthan, Karthikeyan Prakash, and Chandrasekar C, Frigate offers a comprehensive range of manufacturing services to medium and large-scale companies on a global scale. By bridging the gap between digital designs and physical products, Frigate eliminates concerns related to delays or finding reliable vendors.
Serving Diverse Industries and Empowering MSMEs
Frigate primarily caters to clients in sectors such as new energy and power, electric vehicles, infrastructure, and the automotive industry. With over 200 MSMEs already served and more than 100,000 parts manufactured since its inception, the startup has established itself as a trusted partner in the manufacturing space.
To streamline the entire process from sales to fulfillment, Frigate leverages an AI-based technology platform that matches demand with supply. By collaborating with approximately 200 manufacturing partners located in Tier-II cities like Coimbatore, Hosur, and Jamnagar, Frigate effectively utilizes their spare capacity to meet growing demands.
Competition and Growth Potential
Frigate faces competition from domestic players such as Zetwerk, Nexprt, Groyyo, and CapGrid. However, with its recent funding and successful track record, Frigate is poised for continued growth and market expansion in the dynamic cloud manufacturing sector.
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