Ben & Gaws Pvt. Limited, which runs manufacturing and engineering startup Fabrication Bazar, on Thursday said it has secured Rs 7 crore (around $880,000) in a seed funding round, led by Inflection Point Ventures.
The New Delhi-based startup plans to deploy the fresh proceeds for team expansion, enhancing technology and scaling operations.
Founded by Dwaipayan Dutta and Mohit Garg in 2016, Fabrication Bazar deals with the manufacturing of prefabricated steel products. The company claims to have grown 165% in FY 22 with a confirmed order booking of Rs 130 crore for FY 23.
“We are empowering micro and small steel fabricators by driving the demand from large, process-driven corporates. In IPV, we found not only an early investor but a partner and a guide to bring more clarity towards the critical path,” said Dwaipayan Dutta, founder and chief executive officer, Fabrication Bazar.
“Fabrication Bazar is working to make the sector organized and cutting down on the customer's obstacles post covid in terms of cost and delivery. This unique platform, which aims to serve end customers and streamline the sector in every possible way, has already grown 165% in FY22 with a confirmed order booking 0f Rs 130 crore for FY 23,” said Ankur Mittal, co-founder of Inflection Point Ventures.
Inflection Point Ventures is an angel investing platform with over 7,100 CXOs, HNIs, and professionals under its umbrella. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors.
Manufacturing startups in India have been garnering investors’ attention for quite some time now.
In May, US-based Southco, owned by Touchpoint Inc, has acquired Pune-based manufacturing company Darshana Industries Pvt. Ltd.