Economy Process Solutions has raised about $12 million (Rs 100 crore) in its Series A funding round from Stakeboat Capital Fund II. Separately, industrial robotics maker Haber has raised nearly $38 million (Rs 317.2 crore) in its Series C funding round led by Creaegis.
Economy Process Solutions raises $12m
Economy Process Solutions, a player in vacuum and continuous process equipment solutions, has raised about $12 million (Rs 100 crore) in its Series A funding round from Stakeboat Capital Fund II, per a company announcement.
“We plan to use this capital to accelerate our growth, broaden our range of in-house manufactured products, expand our global footprint, and foray into new categories such as F&B solutions,” said Rajesh Ahuja, founder and chief executive officer, Economy Process Solutions.
Established in 2015, Economy Process Solutions offers bespoke vacuum and process solutions. The company expects to grow its domestic and export businesses over the next 4-5 years, driven by the growth in industries including waste management, pharma, and chemicals, which contribute to a majority of its revenue, it said in a statement.
The company also recently expanded its products to also cater to the beverage industry. With headquarters in Mumbai and manufacturing facilities at Chakan (Pune), Economy Process Solutions claims to have served 600 customers in 30+ countries.
Creaegis leads $38m funding in Haber
Industrial robotics maker Haber has raised nearly $38 million (Rs 317.2 crore) in its Series C funding round led by Creaegis with participation from Accel India and BEENEXT Capital.
The board at Haber has passed a special resolution to issue 100 equity shares and 457,572 Series C preference shares to raise the aforementioned amount, Entrackr reported citing the company’s latest filings with the Registrar of Companies.
The investment will support the company’s expansion, growth, and other capital requirements, the report added.
Haber develops AI-driven industrial robots which automate the manual process of sample collection, measurement, analysis and intervention at factories. The company claims that its AI+IoT-based technology helps customers spend less time collecting and analysing data by predicting results and driving value in real-time.
