Carbon fibre startup Fabheads raises additional funds in its pre-Series A round

Chennai-based carbon-fibre-focused 3D printer startup Fabheads today announced it has raised additional funds as part of its pre-Series A funding round led by Rockstud Capital, FirstPort Capital, and Bliss Flow Investments Pvt Ltd.

Previously, Fabheads had raised Rs 8 crore in its first tranche of pre-Series A funding round in May from angel investment firm Inflection Point Ventures.

The startup will use the funding towards marketing, supply chain enhancement, and scale-up operations. "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,” said Dhinesh Kanagaraj, CEO & Founder of Fabheads. 

Founded in December 2015 by Abhijeet Rathore, Dhinesh Kanagaraj, and Akshay Ballal, Fabheads Automation develops automation equipment to manufacture high-end carbon fiber parts in the country. The startup primarily deals in the Aerospace, Automobile, and Biomedical sectors.

Speaking on the investment, Abhishek Agarwal, Managing Partner of Rockstud Capital, said:

“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. Fabheads, with its excellent technical capabilities, is well placed to benefit from it."

According to the startup, The carbon fibre industry has seen a significant increase in growth in the last two decades in sectors like Biomedical, Shipping, etc. It serves a large carbon fiber parts market which is a global market of $60 Billion with an annual CAGR of 14%. The Indian market alone is $5 Billion.

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