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Chennai-based deeptech startup Fabheads raises $10 million in funding
- Chennai-based startup Fabheads, founded by former ISRO engineers, has secured $10 million in funding in a Series A round led by Accel.
- The funding includes $2.3 million in venture debt from Trifecta Capital, bringing Fabheads' total funding to $13 million.
- The startup plans to use the funding to expand manufacturing capacity, strengthen R&D operations, and grow the engineering team to meet global demand.
- Fabheads aims to establish a new factory in Bengaluru's Aerospace Park, with 70+ advanced manufacturing machines.
- Fabheads utilizes Adaptive Tow Placement (ATP) technology, automating composite fiber placement for precise and efficient manufacturing.
- Their proprietary automation platform reduces material wastage by 20%, cuts production cycle time by 30%, and lowers manufacturing costs by up to 50%.
- The startup targets industries like aerospace, robotics, drones, shipping, and mobility, serving clients such as Tata Group, Motherson Group, and ISRO.
- Fabheads plans to expand globally, particularly in defense and clean energy sectors, leveraging its specialized composite manufacturing technology.
- Fabheads founders, Kanagaraj and Rathore, express readiness to lead innovation in composite manufacturing globally, making composites accessible across various sectors.
- Accel Partner Swaroop highlights Fabheads' role in addressing manufacturing bottlenecks in aerospace, defense, mobility, and renewable energy sectors.
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