Breaking NewsIndian Beehive

Karkhana.io raised $6.3 M Series A funding from Arkam Ventures, others

The $6.3 million Series A round led by Arkam Ventures and Susquehanna Asia Venture Capital was raised by Karkhana.io, a custom manufacturing platform for manufacturing MSMEs. Existing backer Vertex Ventures Southeast Asia and India also participated in the round.

As stated in a press release, Karkhana.io plans to expand throughout the US and Europe, strengthen its electronics supply chain, and increase its base of suppliers.

Established by Sonam Motwani and Karthik MC, Karkhana.io leverages its manufacturing MSMEs network in India to offer OEMs and tech companies contract manufacturing and sourcing solutions.

The company provides OEMs with a customized range of manufacturing solutions, from small batch to mass production, in product categories such as electric vehicles, consumer electronics, medical equipment, and aerospace, among others.

The mumbai-centered digital platform offered by Karkhana.io simplifies and expedites the sourcing process by giving businesses access to a network of pre-screened suppliers of any size and helps them overcome manufacturing inefficiencies.

According to the platform, 90 OEMs can now access its supplier network of over 400 MSMEs for their contract manufacturing needs. Over 3,000 MSME suppliers will be empowered by the company in the next three years.

With the help of Vertex Ventures Southeast Asia & India, Karkhana raised about $1.5 million in its seed round in January 2021. Several angel investors also took part in it.

 

 

SHARE

Related Articles

Back to top button