Fabrication Bazar Raises USD 3 Million in Funding
By Rediff Money Desk, New Delhi Aug 23, 2024 14:12
Fabrication Bazar, a manufacturing tech startup, secured USD 3 million in funding led by Physis Capital. The funds will be used to enhance its tech platform, expand geographically, and hire leadership.
New Delhi, Aug 23 (PTI) Manufacturing tech startup Fabrication Bazar on Friday said it has raised USD 3 million (over Rs 25 crore) in a funding round led by Physis Capital.
The pre-series A funding round also saw participation from Japan-based venture capital ICMG and existing investor Inflection Point Ventures, the company said in a statement.
The funds raised, which include part debt, are intended to be utilised for further enhancing the tech platform to support the growth, ramping up geographic presence to regions outside India especially GCC (Gulf Cooperation Council) and South East Asia markets, and for leadership team hiring, it added.
"This round helps us to further enhance our tech offerings and build the team to take us to the next level. Given the size and potential of the steel fabrication industry in India and globally, we see significant growth opportunities ahead," Fabrication Bazar Co-Founder & CEO, Dwaipayan Dutta said.
Fabrication Bazar is a tech-driven industrial steel product manufacturing platform offering steel fabricated products to clients by leveraging its vendor network across India, Vietnam and GCC.
In 2022, the company raised USD 1 million in a seed funding round from Inflection Point Ventures (IPV).
The pre-series A funding round also saw participation from Japan-based venture capital ICMG and existing investor Inflection Point Ventures, the company said in a statement.
The funds raised, which include part debt, are intended to be utilised for further enhancing the tech platform to support the growth, ramping up geographic presence to regions outside India especially GCC (Gulf Cooperation Council) and South East Asia markets, and for leadership team hiring, it added.
"This round helps us to further enhance our tech offerings and build the team to take us to the next level. Given the size and potential of the steel fabrication industry in India and globally, we see significant growth opportunities ahead," Fabrication Bazar Co-Founder & CEO, Dwaipayan Dutta said.
Fabrication Bazar is a tech-driven industrial steel product manufacturing platform offering steel fabricated products to clients by leveraging its vendor network across India, Vietnam and GCC.
In 2022, the company raised USD 1 million in a seed funding round from Inflection Point Ventures (IPV).
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- FSN E-Commerce Ventu
- 226.90 (+ 7.84)
- 44986839
- Rajnish Wellness
- 4.35 (+ 9.85)
- 42383762
- Reliance Power L
- 34.45 ( -4.99)
- 37949700
- GTL Infrastructure
- 2.81 ( -2.09)
- 34669129
- ARC Finance
- 1.33 (+ 4.72)
- 30775342
MORE NEWS
![Ola vs....](https://im.rediff.com/80-80/money/2024/jul/09july-ola-maps.jpg)
Ola vs. MapmyIndia: Legal Notice, Mapping Claims
Ola founder Bhavish Aggarwal rejects MapmyIndia's claims of copying their mapping...
![Bikaji Foods...](https://im.rediff.com/80-80/getahead/2015/feb/23food.jpg)
Bikaji Foods Acquires Ariba Foods for Frozen...
Bikaji Foods International has acquired a majority stake in Ariba Foods, a Ujjain-based...
![M3M India Sales...](https://im.rediff.com/80-80/money/2020/dec/21housing.jpg)
M3M India Sales Surge 37% to Rs 3,911 Crore in Q1
M3M India reports a 37% rise in property sales for Q1 FY25, reaching Rs 3,911 crore,...