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Haber Raises $44M in Series C Funding

Dec 17, 2024 - finsmes.com
Haber, a smart manufacturing startup based in Pune, India, has secured $44 million in a Series C funding round, comprising $38 million in equity and $6 million in debt. The funding was led by Creaegis, BEENEXT, and Accel. The company plans to use the investment to expand into North America, establish an office in Chicago, and set up an advanced R&D lab for generating training data and AI models. Additionally, Haber intends to hire engineers, data scientists, industry specialists, and professionals in sales and support roles.

Founded in 2017 by Vipin Raghavan, Priya Venkat, and Arjunan PN, Haber has developed AI technology that aids manufacturers in making data-driven decisions, optimizing resource use, and reducing water and energy consumption. The company has significantly contributed to efficiency and sustainability in the Indian paper industry and aims to extend its impact to other sectors, including mining, metal, and food & beverage industries.

Key takeaways:

  • Haber, a smart manufacturing startup based in Pune, India, raised $44 million in a Series C funding round.
  • The funding round was led by Creaegis, BEENEXT, and Accel, with $38 million in equity and $6 million in debt.
  • The company plans to use the funds to expand into North America, establish an office in Chicago, and set up an advanced R&D lab.
  • Haber aims to hire engineers, data scientists, and industry specialists to support its growth and continue developing its AI technology for various manufacturing industries.
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