SUMMARY
- Haber has secured Rs 317.2 crore in its Series C funding round led by Creaegis.
- Creaegis, BEENEXT, and Accel India contributed Rs 200.35 crore, Rs 83.5 crore and Rs 33.4 crore respectively.
- The funds will be utilized for the company’s expansion, growth, and to meet other financial needs.
B2B robotics producer Haber has secured Rs 317.2 crore (roughly $38 million) in its latest Series C funding round led by Creaegis alongside Accel India and BEENEXT Capital. This latest funding round came for the company after a three-year hiatus.
Creaegis led with Rs 200.35 crore, along with contributions from BEENEXT Capital and Accel India amounting to Rs 83.5 crore and Rs 33.4 crore, respectively.
The Haber board has approved a special resolution to issue 100 equity shares and 457,572 Series C preference shares to raise the aforementioned amount.
The funds will be utilized for the company’s expansion, growth, and to meet other financial needs. Haber’s valuation post-allotment is estimated to be around Rs 1,242 crore ($148 million).
Haber develops AI-driven industrial robots that streamline tasks that are traditionally labor-intensive, such as sample gathering, measurement, analysis, and intervention within manufacturing facilities. The company’s website highlights its role in helping various industries, including food and beverages, agriculture, and oil and gas, to reduce their consumption of chemicals, as well as their energy and water usage.
To date, the Pune-based company has raised over $65 million, including a $20 million Series B round in November 2021, which was led by Ascent Capital with support from Accel, Elevation, and Beenext. Accel holds the largest external stake with an 18.1% ownership, followed by Creaegis and Elevation.
Although the financial results for FY24 have not yet been disclosed, Haber has reported a total revenue of Rs 82 crore and a loss of Rs 36.7 crore in FY23. The company competes with other notable players in the market, including those backed by Prosus, Altizon, and Fero Labs.
