In a groundbreaking move for the manufacturing sector, Karkhana.io, the Mumbai-based manufacturing platform, has successfully secured $6.3 million in a Series A funding round led by Arkam Ventures and Susquehanna Asia Venture Capital. With participation from existing backer Vertex Ventures Southeast Asia and India, this latest infusion of capital positions Karkhana.io as a formidable player in the industry, propelling its mission to transform the MSME manufacturing ecosystem in India.
Karkhana.io’s platform offers scalable and adaptable manufacturing services, encompassing box-build, product localization, and small-to-large batch production. The company’s commitment to innovation and efficiency caught the attention of investors, leading to this substantial funding round.
The primary focus of the newly acquired funds is to fortify the electronics supply network, enabling Karkhana.io to extend its footprint into the lucrative markets of the United States and Europe. Additionally, the investment will fuel the expansion of the platform’s base of suppliers, ensuring a diverse and robust ecosystem for businesses.
The significance of Karkhana.io lies in its online service, featuring a single screen that grants businesses access to a meticulously pre-screened network of suppliers of all sizes. This streamlined approach accelerates and simplifies the sourcing process, empowering businesses to overcome industrial constraints and boost production efficiency.
Founded in 2018, Karkhana.io has already demonstrated its prowess in the industry. In January 2021, the company completed a seed round led by Vertex Ventures Southeast Asia & India, raising approximately $1.5 million. The latest Series A funding marks a significant milestone for Karkhana.io, signifying the growing confidence in its vision and potential impact on the manufacturing landscape.
The platform’s dedication to digitalization and expansion aligns with its mission to revolutionize the MSME manufacturing ecosystem in India. By empowering suppliers through company expansion and digital initiatives, Karkhana.io is poised to play a pivotal role in shaping the future of manufacturing in India and globally.
As Karkhana.io continues to innovate and expand its footprint, it sets a compelling example for the manufacturing industry, showcasing the transformative power of technology and strategic investment in fostering sustainable growth and efficiency. The $6.3 million Series A funding marks the beginning of an exciting chapter for Karkhana.io, promising advancements that will undoubtedly resonate across the manufacturing landscape.
