Deeptech startup ThinkMetal has secured $800,000 (approximately Rs 6.7 crore) in a pre-Series A funding round led by YourNest Venture Capital as part of the YourNest-SanchiConnect Velocity Program 2024. The round also saw participation from Concept Communications and Sanchi Connect.
Before this, ThinkMetal raised $300,000 in a seed round led by 100X.VC, with support from Concept Communications, SAT Industries, and notable investors such as KRS Jamwal and Uday Sodhi.
Scaling Production and Expanding Capabilities
With the fresh capital, ThinkMetal aims to finalize production readiness, launch its first-generation product, enhance software capabilities, refine manufacturing processes, and expand its team in key areas, including sales, operations, design, and software development.
Pioneering a Faster, More Affordable Metal 3D Printing Solution
Founded in 2021 by Sabyasachi Ghosh and Arushi Sharma, Chennai-based ThinkMetal is revolutionizing metal part production with its compact metal 3D printer, SistemT1. The company claims its proprietary technology is 10 times faster and reduces costs by 50% compared to traditional methods.
At the core of its innovation is FuseX material technology, which significantly cuts down production time while reducing operational expenses. This makes SistemT1 a game-changer for manufacturers producing moulds, dies, jigs, and fixtures—delivering parts in just a few hours instead of days.
Target Market and Industry Potential
India’s tooling market is valued at $5 billion and is growing at a CAGR of 9%, presenting a significant opportunity for ThinkMetal. The company is targeting medium and small-scale manufacturers through a go-to-market strategy that includes paid pilots, experience centres, and on-demand services.
ThinkMetal’s existing customer base includes Ants Ceramics, ZeQube Technologies, and Hosur CNC.
Competing in the Global 3D Printing Landscape
The metal 3D printing industry is dominated by global players like Markforged, Desktop Metal, and EOS. ThinkMetal aims to position itself as a strong alternative in the rapidly growing market by offering a cost-effective and efficient solution tailored for Indian manufacturers.
With its latest funding, ThinkMetal is now gearing up to disrupt the traditional manufacturing landscape with its next-generation metal 3D printing technology.
