Pune-based industrial robotics startup Haber has successfully raised ₹317.2 crore (approximately $38 million) in its Series C funding round, marking a significant milestone for the company after a three-year hiatus. The round was led by Creaegis, with participation from Accel India and BEENEXT Capital, showcasing strong investor confidence in the company’s potential.

Regulatory filings accessed by Entrackr reveal that Haber’s board approved a special resolution to issue 100 equity shares alongside 457,572 Series C preference shares to facilitate this capital raise. Creaegis contributed ₹200.35 crore, while BEENEXT and Accel added ₹83.5 crore and ₹33.4 crore, respectively.

This fresh capital will be instrumental in supporting Haber’s ongoing expansion and growth initiatives, as well as addressing various capital requirements necessary for scaling operations.

Haber specializes in developing AI-powered industrial robots designed to automate labor-intensive tasks such as sample collection, measurement, analysis, and intervention within factories. The company’s solutions aim to minimize chemical consumption, and energy, and water usage, serving diverse sectors including food and beverages, agriculture, and oil and gas.

To date, Haber has raised over $65 million in funding, including a notable $20 million Series B round led by Ascent Capital, which also saw participation from Accel, Elevation, and BEENEXT in November 2021. Currently, Accel holds the largest external stake in the company, with an 18.1% share, followed closely by Creaegis and Elevation.

While the financial results for FY24 are yet to be disclosed, Haber reported a total revenue of ₹82 crore and a loss of ₹36.7 crore in FY23. The company faces competition from notable players in the field, including Detect Technologies, Altizon, and Fero Labs, all backed by significant investments.

With this new funding, Haber is poised to enhance its product offerings and accelerate its growth trajectory in the rapidly evolving industrial robotics sector.