Imgae: DiFACTO’s Linkedin
Bengaluru-based robot automation solutions provider DiFACTO Robotics and Automation announced that it has raised Rs 40 crore in a Series A funding from Stakeboat Capital.
The funds will be utilised to fuel growth and strengthen market position, said the company in a statement.
The technology startup plans to capitalise on India’s automotive industry need for robotic automation, as it is expected to reach $512 billion by 2026, said Ajay Gopalswamy, chief executive officer, DiFACTO.
“India’s automotive industry is one of the many areas that leverage robotic automation. It is expected to experience a compound annual growth rate (CAGR) of 12.7 per cent, reaching $512 billion by 2026. It is also poised to contribute 12 per cent of our nation’s gross domestic product (GDP). With our established market dominance and track record, we see a strong growth trajectory here,” said Gopalswamy.
The company has three factories in Bengaluru, branches in Pune and Gurgaon, and a wholly-owned subsidiary in Michigan, USA, operating across four segments: welding systems, material handling systems, foundry and machine tending systems, and fluid dispensing systems.
“India’s manufacturing sector is rapidly embracing automation and cutting-edge technologies,” said Chandrasekar Kandasamy, managing partner, Stakeboat Capital.
DiFACTO has previously worked across industries including automotive, aerospace, railways, foundries, and metals, with companies like Defence Research and Development Organisation (DRDO), Inteltek Automation, ABB Robotics, and Fanuc India.
First Published: May 29 2024 | 3:07 PM IST
