ThinkMetala deeptech hardware startup, has made headlines by securing $300,000 (Rs 2.5 million) in its pre-seed funding round.
According to the startup, the freshly raised funds will be used for product development, particularly for the further development of its metal 3D printer e-compact.
Led by early-stage venture capitalist 100X.VC, the funding round also included listed company SAT Industries and angel investors KRS Jamwal and Uday Sodhi.
ThinkMetal | Compact metal 3D printer
Founded by Sabyasachi Ghosh And Arushi Sharma in 2021, ThinkMetal is a Chennai-based startup that offers a compact metal 3D printer that prints metal parts. The startup develops innovations in 3D printing for printing metals and functionally graded materials and is building an “ecosystem” for end-to-end 3D printing solutions.
According to ThinkMetalIt eliminates the hassle of time-consuming processes, expensive metal 3D printers, slow and bulky printing failures and increased costs.
Speaking about the development, Sabyasachi Ghosh, co-founder and CEO of ThinkMetal, highlighted the startup’s goals to target Tier-I tool manufacturers and prototype manufacturers that serve OEMs.
Ghosh added:
“This strategic approach results in a total addressable market (TAM) of approximately $700 million. We are currently improving our capacity to conduct trials and pilots with various manufacturing companies.”
Investor’s statement
Ninad Karpe, Founder and Partner at 100X.VC, commented on the development as follows:
“As ThinkMetal’s first institutional investor, we are excited about the prospect of this deep tech startup targeting the tools industry. India has a robust manufacturing sector and disruptive technologies are essential to drive innovation and growth in this sector. ThinkMetal is rightly poised for rapid growth in the coming years.”
The startup is committed to simplifying manufacturing and is currently expanding its capacity to conduct trials and pilot projects with various manufacturing companies.
According to Arushi Sharma, co-founder and CTO of ThinkMetal, the startup is on a mission to revolutionize manufacturing processes for prototypes, tools, jigs and fixtures. She added that her sophisticated, compact metal 3D printer allows complicated parts to be created more quickly and from the comfort of one’s desk.
There are several players in the 3D printing space including Objectify Technologies (founded by IIT Kanpur), Bengaluru-based Pandorum Technologies, Gaags Technologies and others.
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