On-demand manufacturing startup Prodo has secured a $1 million seed round led by Inflection Point Ventures along with participation from Titan Capital, LetsVenture and Dholakia Ventures.
This is Prodo’s second round of funding. The company had previously raised its pre-seed round of $400,000 led by Titan Capital and LetsVenture in November 2021.
Founded by Sameen Hussain and Abhiroop Srivastava, Prodo is an on-demand manufacturing and procurement platform which helps mid and large companies with their bulk manufacturing requirements. The customers can live track the journey of the production cycle – from design to delivery. The company aims to create supply chains that provide fastest turnaround times for the clients and operational efficiency on each of its SKUs, so that the clients get true value for money.
Prodo empowers its partner manufacturers by providing them with sustainable demand, working capital, raw material, SOPs and technology to bring them up to the standards of global manufacturing, The company, which works on quarterly to yearly orders for mid and large clients, plans to clock in an orderbook of 400 crores by FY24.
The New Delhi-based company claims to have more than 500 manufacturing units as a part of its network within 12 months of operations, and is building cloud-connected network of small and medium manufacturers.
Inflection Point Ventures has invested in more than 100 startups across sectors such as consumer tech, edtech, healthtech, fintech, B2B SaaS, social and content commerce. Earlier this month, it backed Fresh From Farm, Buyofuel, and Mocero Health.
