Manufacturing tech startup Fabrication Bazar on Friday said it has raised USD 3 million (over Rs 25 crore) in a funding round led by Physis Capital.
The pre-series A funding round also saw participation from Japan-based venture capital ICMG and existing investor Inflection Point Ventures, the company said in a statement.
The funds raised, which include part debt, are intended to be utilised for further enhancing the tech platform to support the growth, ramping up geographic presence to regions outside India especially GCC (Gulf Cooperation Council) and South East Asia markets, and for leadership team hiring, it added.
"This round helps us to further enhance our tech offerings and build the team to take us to the next level. Given the size and potential of the steel fabrication industry in India and globally, we see significant growth opportunities ahead," Fabrication Bazar Co-Founder & CEO, Dwaipayan Dutta said.
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Fabrication Bazar is a tech-driven industrial steel product manufacturing platform offering steel fabricated products to clients by leveraging its vendor network across India, Vietnam and GCC.
In 2022, the company raised USD 1 million in a seed funding round from Inflection Point Ventures (IPV).
