Mekr bags Rs 5.8 crore as its funding from Better Capital and Titan Capital
- ByStartupStory | June 28, 2022
Titan Capital and Better Capital have contributed Rs 5.8 Cr to the seed fundraising round for the electronics manufacturing platform Mekr. 2AM VC also participated in the round. The firm intends to utilise the money to expand its teams in charge of sales, supply chains, technology, project management, and working capital needs.
Anand Yadav and Gaurang Kuchhal established the Delhi-based Mekr in 2021. It is a technology-first digital manufacturing platform for end-to-end electronic device manufacture. The firm has a whole manufacturing ecosystem for electrical products, including facilities for producing plastics, PCBAs, metals, sourcing from China, and a potent R&D group.
These second-time entrepreneurs have travelled the path from mass manufacturing of hardware prototypes. After encountering manufacturing obstacles for the first time, they discovered how challenging it was to take proof-of-concept designs and mass produces genuine items for consumers.
Gaurang Kuchhal, co-founder and CEO of Mekr stated, “People frequently have the preconceived assumption that it is impossible to undercut China’s product costs. The reality, nevertheless, contradicts this. With Mekr, we have always been able to match China’s costs while providing excellent product quality and a smooth manufacturing process.”
“Today, India’s import of electronics is only surpassed by that of oil. The extent to which we rely on imported gadgets is somewhat astonishing. Due to Covid and current global geopolitical conditions, supply chains are already shifting on a worldwide scale, according to Titan Capital partner Bipin Shah.
Vaibhav Domkundwar of Better Capital said, “Mekr is developing the Aatmanirbhar Manufacturing Platform of India to equip local product firms of all sizes with the quality, scalability, and economics necessary to compete with international firms in both domestic and international markets. We are happy to be Anand and Gaurang’s beginning stage partner as they create a vital piece of the jigsaw for leapfrogging Indian enterprises into manufacturing leadership.”
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