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Today: May 26, 2024
January 9, 2024
1 min read

Karkhanaio Secures $63M Funding Boost from Arkam and Susquehanna AV

TLDR:

  • Karkhana.io, a contract manufacturing platform, has raised $6.3 million in funding from Arkam and Susquehanna Asia Venture Capital.
  • The platform connects over 500 MSMEs with 90-100 OEMs to fulfill their contract manufacturing requirements.

Karkhana.io, an Indian contract manufacturing platform, has raised $6.3 million in a funding round led by Arkam and Susquehanna Asia Venture Capital. The platform connects over 500 MSMEs (micro, small, and medium enterprises) with 90-100 OEMs (original equipment manufacturers) to fulfill their contract manufacturing requirements.

Karkhana.io was founded in 2019 by Sonam Motwani and Prasoon Chatham, with the aim of bridging the gap between MSMEs and OEMs in the manufacturing industry. The platform utilizes technology to streamline the contract manufacturing process and provide a transparent and efficient ecosystem for both buyers and suppliers.

With the funding, Karkhana.io plans to expand its supplier network and further enhance its technology platform. The company currently has a supplier network of 500 MSMEs and aims to increase this number to 1,000 in the next 12 months. The funds will also be used to strengthen the company’s team and invest in marketing and brand building activities.

Karkhana.io has seen significant growth since its inception, with a customer base that includes global brands such as Tata Motors, Myntra, and Lenovo. The platform has facilitated over 4,000 manufacturing orders and has enabled MSMEs to increase their revenue and optimize their operations.

The contract manufacturing industry in India is experiencing rapid growth, driven by factors such as increasing demand for customized products, cost optimization, and the need for scalability. Karkhana.io aims to capitalize on this trend by providing a technology-driven solution that simplifies and streamlines the contract manufacturing process.

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