Robotics Startup DiFACTO Bags INR 40 Cr in Series A from Stakeboat Capital The Bengaluru-based platform aims to deploy the raised funds to fuel the company's growth and strengthen its market position.
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Robotics and automation solutions provider DiFACTO has announced that it has secured INR 40 crore in a Series A round from private equity firm Stakeboat Capital.
Ajay Gopalswamy, Founder and CEO of DiFACTO, said, "This capital will be used to fuel our growth, strengthen our market position, and stand true to our commitment towards innovation."
Founded in 2007, DiFACTO provides industrial robotics-based solutions. It currently operates across four key segments: welding systems, material handling, machine tending systems, and fluid dispensing systems.
It is headquartered in Bengaluru, with engineering branch offices in Pune and Gurugram and a wholly-owned subsidiary in Troy, Michigan, US.
According to Gopalswamy, India's automotive industry is one of the many areas that leverage robotic automation. It is expected to experience a CAGR of 12.7 percent, reaching USD 512 billion by 2026. It is also poised to contribute 12 percent of our nation's GDP.
The platform claims that it has delivered over 1,000 projects for 300 customers across 15 countries in industries such as automotive, aerospace, railways, construction machinery, food and pharma, foundries, energy industries, metal industries, electronics, and home appliances.
The startup employs over 200 engineers.
Srinivas Baratam, Managing Director, Stakeboat Capital, added, "While data published by the International Federation of Robotics (IFR) puts India in 10th place globally as regards annual industrial robot installations, this position will rapidly change as the manufacturing sector continues to grow."
