Karkhana.io, a custom manufacturing platform for manufacturing MSMEs, has raised $6.3 million in its Series A round led by Arkam Ventures and Susquehanna Asia Venture Capital. The round also saw participation from existing backer Vertex Ventures Southeast Asia and India.
The proceeds will be used to ramp up supplier base, enhance electronics supply chain, and expansion across the US and Europe, Karkhana.io said in a press statement.
Founded by Sonam Motwani and Karthik MC, Karkhana.io provides sourcing and contract manufacturing solutions to OEMs and tech companies, through its manufacturing MSMEs network in India.
The firm works with OEMs across product categories like EVs, medical equipment, consumer electronics, aerospace and others, helping them with a custom range of manufacturing solutions from small batch to mass production.
Mumbai-based Karkhana.io’s digital platform streamlines and simplifies the sourcing process, providing a single dashboard for companies to access a network of vetted suppliers, regardless of their scale, and overcome the manufacturing inefficiencies.
The platform currently claims to have a supplier network of over 400 MSMEs enabling 90 OEMs for their contract manufacturing requirements. In the next three years, the firm plans to empower over 3,000 MSME suppliers.
Karkhana raised around $1.5 million in its Seed round in January of 2021 led by Vertex Ventures Southeast Asia & India. It also saw participation from several angel investors.