Fabheads raises $10 million in funding led by Accel

Fabheads, a Composite manufacturing technology startup has raised $10 million in a mix of debt and equity led by Accel.

Out of the total, $2.3 million (Rs 20 crore) was raised through venture debt from Trifecta Capital. With this, the startup’s total funding has reached $13 million.

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The funds will be used to increase manufacturing, grow the leadership team and boost client support and R&D.

“The majority of the funds will be used for setting up a bigger manufacturing factory in Karnataka,” Fabheads cofounder Dhinesh Kanagaraj said. “It is between 80,000 to 100,000 square feet in size and is already in the process of being made. We are looking at having over 70 big machines here.”

“Fabrication of composite materials into finished goods takes long hours of manual labour. To make the process efficient, we have developed an automated manufacturing process that makes it a lot more reliable,” said Kanagaraj.

The new facility is being built at Bengaluru’s Aerospace Park in the KIADB area and is expected to be ready in six months. Right now, the startup operates only from Chennai, where it has an office and a factory with 13 machines.

About Fabheads 

Founded in 2015 by former ISRO engineers Kanagaraj and Abhijeet Rathore, the Chennai-based Fabheads provides design and manufacturing services to drone, robotics, and shipping companies across India and aims to expand globally. Its current clients include Tata, ISRO, Motherson Group and others.

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