SUMMARY
- Fabrication Bazar has successfully secured $3 million in its pre-Series A funding round led by Physis Capital.
- This investment round also saw participation from Japan-based venture capital ICMG, and Inflection Point Ventures, an existing investor.
- Funds raised will support technology platform development, expansion into new regions, and leadership recruitment.
Fabrication Bazar, the technology-focused manufacturing entity of Ben & Gaws Private Limited, has successfully secured $3 million in its pre-Series A funding round led by Physis Capital.
This investment round also saw participation from Japan-based venture capital ICMG, and Inflection Point Ventures, an existing investor.
“Fabrication Bazar is at the forefront of this transformation, revolutionizing the manner in which the industry meets its steel fabrication requirements. By effortlessly integrating cutting-edge technology with a meticulously selected global network of fabricators, they are not merely satisfying demand; they are redefining the benchmarks for efficiency, cost-effectiveness, and quality,” said Ankur Mittal, partner at Physis Capital.
The funds raised encompass a portion of debt, and will be allocated towards the further development of the technology platform to accommodate the expanding operations of the company, the expansion of its presence into new geographic regions, particularly the GCC and SE Asia markets, and the recruitment of additional members to the leadership team.
Dwaipayan Dutta, the cofounder and Chief Executive Officer of Fabrication Bazar, has affirmed that the recent investment round serves as a testament to the robustness and efficacy of their business model and methodology in addressing the obstacles encountered by the steel fabrication sector in India through a strategy that relies less on physical assets.
Established by Dutta, Fabrication Bazar stands as a technology-driven manufacturing platform that specializes in the production of industrial steel products, serving a clientele of over 400 across various sectors.
Through its innovative manufacturing technology, the company collaborates with approximately 330 fabrication vendors across India, enhancing production efficiency and reducing delivery times by dividing products into multiple components and processing them concurrently.
The entity has previously secured a funding of over Rs 7 crore in August 2022, during a seed funding phase led by Inflection Point Ventures.
Fabrication Bazar has reported significant growth in its operations over the past year, including the expansion of its vendor network and client base within India. Additionally, the company has been recognized as a qualified vendor by several of the region’s largest corporations in the GCC and is in the process of establishing a presence in Vietnam to meet the demand from the SEA region.
