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Fabheads raises $10 million Series A led by Accel to automate composite fibre manufacturing
- Fabheads, a composite fibre manufacturing company, has raised $10 million in a Series A funding round led by Accel.
- The funds will be used to enhance manufacturing capacity, expand leadership team, and bolster client-facing engineering and R&D segments.
- Fabheads plans to open a new manufacturing facility in Bengaluru in the next six months to target the aerospace industry and accommodate rising international demand.
- Established in 2015 by ISRO engineers Dhinesh Kanagaraj and Abhijeet Rathore, Fabheads automates critical processes like fibre placement and layering with robotic precision, reducing costs by up to 50% and lowering rejection rates by up to 20%.
- The company's automated manufacturing system also decreases material wastage by 20% and accelerates production cycles by up to 30% compared to manual methods.
- Dhinesh Kanagaraj, Co-founder and CEO at Fabheads, highlighted that the funding supports their goal of advancing composite technology accessibility for aerospace, mobility, and clean energy sectors.
- Prayank Swaroop, Partner at Accel, praised Fabheads for addressing manufacturing challenges in key industries and supporting the adoption of composites in aerospace, defense, mobility, and renewable energy sectors.
- India's composites materials market, valued at $1.8 billion in 2024, is projected to reach $2.8 billion by 2030 with a 7.8% compound annual growth rate.
- The Indian government is actively promoting domestic advanced materials manufacturing, aiming to start carbon fibre production by 2025-26 and achieve $10 billion in technical textiles exports by 2030 under initiatives like the National Technical Textiles Mission and PLI schemes.
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