Frigate, a promising manufacturing-based startup, has successfully raised $1.5 million in a seed funding round, and with this funding, the startup has marked a significant milestone. The funding round was led by Arali Ventures and saw participation from Java Capital, and Capital-A along, with other investors.
Commenting on the funding, Tamizhinian Vasanthan, Founder & CEO, Frigate, said, “On the demand side, Frigate provides manufacturing-as-a-service to global customers, offering globally competitive pricing and better-lead times. Frigate is helping customers overseas, who are looking at a China +1 policy to set up a manufacturing base in India.”
Managing Partner, Arali Ventures, Arun Raghavan, said, “The manufacturing sector from India has significant tailwinds driving it forward. The B2B manufacturing business is poised now, like the IT services were in the late 90s.”
He further added, “Original Equipment Manufacturers (OEMs), especially in new age industries, across the globe, are looking for long-term partners who will help them build out their vendor development, contract manufacturing partners and supply chain capabilities. The Frigate team with its manufacturing, new product development and operations management capabilities is best suited to execute this, going forward”.
Currently, Frigate has joined hands with 200 plus manufacturing partners, especially in tier-2 cities, which include Coimbatore, Trichy, Hosur, Jamnagar, Ludhiana, Kolhapur, and Kolar.
The Tamil Nadu based startup, Frigate, was founded in 2021 by tech enthusiasts, Tamizhinian Vasanthan, Kartikeyan Prakash, Chandrasekar C, and Iniyavan Vasanthan. The startup aims to revolutionize the logistics and transportation industry by incorporating advanced technologies such as artificial intelligence (AI) and Internet of Things (IoT). Frigate specializes in implementing new consignments with the energy and power sector including the electric vehicle industry.
By harnessing the power of AI and IoT, Frigate empowers fleet owners and managers with valuable insights into their operations, enabling them to make data-driven decisions and optimize their resources effectively.
Furthermore, with the funds, the Trichy-based startup will be focusing on expanding their presence in the digital manufacturing ecosystem in order to cater to its global customer base.
