In its seed fundraising round, Frigate, a business-to-business cloud production firm, secured $1.5 million under the direction of Arali Ventures. Major investors, including Capital A and Java Capital, along with other key angel investors, took part in the round.
The Frigate will use the funding to expand its digital production system and serve customers throughout the world. The funding would also allow Frigate to expand its teams abroad and in India, across several industries.
It serves clients in fields such as new energy and electricity, electric cars, infrastructure, and the automotive sector. Additionally, Frigate asserts that since its founding, it has assisted more than 200 MSMEs, as reported by Inc42.com.
Commenting on the development, Frigate cofounder and chief executive officer (CEO) Tamizhinian Vasanthan said, “On the demand side, Frigate provides manufacturing-as-a-service to global customers, offering globally competitive pricing, better lead time, and best in class manufacturing with quality… Frigate is helping overseas customers who are looking at China+1 policy to set up a manufacturing base in India.”
Tamizh Inian, Iniyavan Vasanthan, along with Karthikeyan Prakash and Chandrasekar C., founded Frigate in 2021. Frigate is a business-to-business cloud platform that supplies a variety of manufacturing services to medium- and large-sized businesses around the world. It enables companies to produce their digital designs as actual goods without having to worry about delays or sourcing suppliers.