Chennai-based carbon fibre focussed 3D printer startup, Fabheads Automation, has raised new funding in an extension of its most recent pre-Series A round. Investors in the current pre-series A extension round include Rockstud Capital, FirstPort Capital, and Bliss Flow Investments.
Industries that employ carbon fiber technology range from aerospace to logistics, and the automotive sector, among others. Products developed by Fabheads Automation include the startup’s 3D printers called FibrBots.
“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,” Managing Partner at Rockstud Capital, Abhishek Agarwal said. “Fabheads, with its excellent technical capabilities, is well placed to benefit from it.”
The startup’s customer base includes companies such as Dell, Skycrafts Aerospace, Avishkar Hyperloop and The ePlane Co., among others.
Fabheads Automation was founded by Abhijeet Rathore and Dhinesh Kanagaraj in 2015, and prior to the extension round had raised total funding worth $1.1 million.
“The funds raised will be used towards our marketing, supply chain enhancement and scale up operations,” Kanagaraj said. “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.”
(Picture courtesy: Fabheads)
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