Startup Karkhana Secures USD 6.3 Million Funding
Jan 09, 2024 11:24
Karkhana, a startup offering flexible manufacturing solutions to small businesses, raised USD 6.3 million led by Arkam Ventures and Susquehanna Asia Venture Capital. The funds will be used to expand its supplier base and operations.
Mumbai, Jan 9 (PTI) Karkhana, a startup that provides flexible and scalable manufacturing solutions to small businesses, on Tuesday said it has raised USD 6.3 million (around Rs 52 crore) in a funding round led by Arkam Ventures and Susquehanna Asia Venture Capital.
Existing investor Vertex Ventures Southeast Asia & India also participated in the round, the startup said in statement.
Funds will be used to bolster supplier base, enhance electronics supply chain, and propel expansion across the US and Europe, its founder and chief executive Sonam Motwani said, adding they have plans to tap 3,000 MSME suppliers in the next three years.
Karkhana provides sourcing and contract manufacturing solutions to OEMs and tech companies, through its manufacturing MSME network.
It works with OEMs across product categories like electric vehicles, medical equipment, consumer electronics, aerospace etc.
The platform claims to have a supplier network of over 400 MSMEs. PTI BEN.
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