Karkhana.io, a tech-enabled platform, which provides flexible & scalable manufacturing solutions, bringing speed to manufacturing has successfully raised $6.3 million in a Series A funding round.
The company which claims Expertise Across All Manufacturing Processes plans to deploy the funds to expand its supplier network, establish an electronics supply chain, and drive expansion efforts in the United States and Europe.
The company’s digital platform, which addresses procurement challenges through a unified dashboard, has been pivotal in connecting companies to vetted suppliers, irrespective of size, and overcoming manufacturing inefficiencies.
With the latest funding injection, Karkhana.io is poised to further redefine the manufacturing landscape and make a lasting impact on the Indian manufacturing industry.
The investment comes at time wherein India’s manufacturing sector is poised to reach a value of $1 trillion by 2025-26, with a substantial contribution expected from micro, small, and medium-sized enterprises (MSMEs).
Karkhana.io well poised to tap burgeoning manufacturing solutions demand
Karkhana.io’s Founder and CEO, Sonam Motwani, expressed gratitude for the investors’ trust, highlighting the company’s commitment to leveraging technology to revolutionize manufacturing and address the burgeoning demand across various sectors, including electric vehicles, medical equipment, consumer electronics, and aerospace.
Karkhana.io’s platform, which offers sourcing and contract manufacturing solutions to original equipment manufacturers (OEMs) and technology companies, has already made significant strides in the industry.
The company’s network of over 400 MSMEs currently serves the contract manufacturing needs of 90 OEMs, with plans to empower more than 3,000 MSME suppliers in the next three years.
The platform’s innovative approach has garnered praise from investors, with Bala Srinivasa, Managing Director of Arkam Ventures, commending the company’s technology-driven solutions and its role in fostering trust and quality within the manufacturing ecosystem.
Founded in 2018, Karkhana.io has been at the forefront of streamlining contract manufacturing across various product categories, from small to large scale and product assembly to localization.
The funding was led by Arkam Ventures and Susquehanna Asia Venture Capital, with participation from existing investor Vertex Ventures Southeast Asia and India.
