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Today: May 18, 2024
January 9, 2024
1 min read

Million-Dollar Boost: Startup Karkhana Raises $63M for Success

TLDR:

  • Startup Karkhana has raised $6.3 million in a funding round led by Arkam Ventures and Susquehanna Asia Venture Capital.
  • The funds will be used to expand the supplier base, enhance the electronics supply chain, and fuel expansion in the US and Europe.
  • Karkhana provides manufacturing solutions to small businesses through its network of over 400 MSMEs.

Indian startup Karkhana has raised $6.3 million in a funding round led by Arkam Ventures and Susquehanna Asia Venture Capital. The funding will be used to bolster the supplier base, enhance the electronics supply chain, and fuel expansion in the US and Europe.

Karkhana provides flexible and scalable manufacturing solutions to small businesses through its network of over 400 MSMEs (Micro, Small and Medium Enterprises). The startup works with original equipment manufacturers (OEMs) across various product categories, including electric vehicles, medical equipment, consumer electronics, and aerospace.

The funds raised in this funding round will help Karkhana tap into 3,000 MSME suppliers in the next three years. The company aims to provide sourcing and contract manufacturing solutions to OEMs and tech companies.

With this funding, Karkhana plans to strengthen its supplier base, improve the electronics supply chain, and expand its reach in the US and Europe. The startup aims to empower small businesses by providing them with flexible and scalable manufacturing solutions.

The funding round was also supported by existing investor Vertex Ventures Southeast Asia & India. Karkhana will use the funds to further enhance its capabilities and cater to the growing demand for manufacturing solutions in various industries.

Overall, this funding round will enable Karkhana to continue its mission of providing high-quality manufacturing solutions to small businesses, while also driving growth and expansion in new markets.

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