Mumbai: Karkhana.io, a B2B on-demand manufacturing platform, announced its seed round financing of USD1.5 million led by Vertex Ventures Southeast Asia & India (Vertex Ventures SEA & India). The company also saw participation from several industry leaders and angel investors. With this funding, Karkhana.io aims to fuel further growth and establish its technology platform to meet the burgeoning demand for custom manufacturing in India’s manufacturing industry.
Established in June 2018, Karkhana.io aims to digitize and streamline the manufacturing industry in India. Founder and CEO, Sonam Motwani said, “Finding the right manufacturing vendor is a tedious and time-consuming process. The industry is still highly fragmented. There is no easy way to figure out which manufacturing process to go for, where to manufacture, and what is a fair price to pay, etc. We want to change this so that new products can go from prototyping to production seamlessly at a much quicker pace.”
Karkhana.io’s mission involves working with various types and sizes of manufacturers throughout the country and alleviating pain points that are prevalent across the supply chain: coordinating production and delivery for multiple small parts, delays, inconsistency in quality, lack of transparency, etc. By working closely with a large network of manufacturers, Karkhana.io can integrate operations for clients, as well as gain control over the quality of work delivered. All this can be done through Karkhana.io’s online platform, which has the tools for manufacturers to manage projects more effectively while providing visibility of progress on projects for customers.
Karkhana.io’s manufacturing capabilities encompass 3D printing, sheet metal work, CNC machining, and injection molding. The young start-up is already enabling building cutting edge technology in India – from deep-sea underwater robots to satellite and rocket for outer space to components for electric vehicles, IOT, and FMCG industries.
Notwithstanding the fact that 2020 was a somewhat lackluster year for the manufacturing space in India, Karkhana.io’s unique business model helped them break out as they added new clients and continued to scale the team as well as revenues through the year.