Fabheads Gets Accel-erated: $10M Series A to Fuel India’s Composite Revolution

Chennai-based deeptech firm Fabheads has raised $10 million in Series A from Accel, with Trifecta Capital participating, in a robust expression of confidence in India's composite manufacturing sector. The fresh fundraise brings Fabheads' overall funding to $13 million, after seed and pre-seed round funding in 2021.

 

Established in 2015 by ISRO alumni-turned-entrepreneurs Dhinesh Kanagaraj and Abhijeet Rathore, Fabheads is a robotic automation solutions company for composite fiber production—a process long marred by high cost, low speed, and extensive wastage. Their patented Adaptive Tow Placement (ATP) technology allows accurate, automated fiber placement, with the potential for 50% cost reductions, 20% less material wastage, and 30% less production cycle time compared with manual processes.

 

Key Points

Major Funding Milestone: Fabheads has raised $10 million Series A from Accel and $2.3 million venture debt from Trifecta Capital, bringing total funding to $13 million.

 

Expansion Plans: The funds will be used for rising manufacturing capacity, growing engineering and R&D personnel, and leadership build-out.

 

New Bengaluru Factory: Fabheads is setting up a 80,000–100,000 sq. ft. state-of-the-art factory in Bengaluru's Aerospace Park, which will go live in six months' time. The new factory will have over 70 high-speed manufacturing machines, a significant jump from the current 13 in Chennai.

 

Proprietary Technology: Their ATP technology is applied to automate complex composite fiber placement at lower cost, waste, and processing time and enable complex geometries for high-performance uses.

 

Industry Influence: Fabheads boasts marquee customers like Tata Group, Motherson Group, and ISRO, with areas of interest including aerospace, robotics, drones, shipping, and clean energy.

 

Market Momentum: India's $1.8 billion in 2024 composites market size will increase to $2.8 billion by 2030 as Fabheads leads domestic and international innovation.

 

Leadership Vision: CEO Dhinesh Kanagaraj underscored the company's unique position as India's only company with this groundbreaking technology, with a vision to democratize composites around the world.

 

With this investment, Fabheads will revolutionize the production of high-performance composites and emerge as a global deeptech automation leader from India.

 

Source: Entrackr, Indian Startup News, Economic Times, BW Disrupt, The Hindu Business Line, Entrepreneur.