Robotics firm DiFACTO raises Rs 40 cr in funding from Stakeboat Capital
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DiFACTO Robotics and Automation, a Bengaluru-based robot automation solutions provider, said on Wednesday it has raised Rs 40 crore in a Series A funding from Stakeboat Capital.
The company will use the funding for business growth and to strengthen its market position. The startup plans to capitalise on India's automotive industry's needs for robotic automation, said Ajay Gopalswamy, chief executive officer of DiFACTO.
"India’s automotive industry is one of the many areas that leverage robotic automation. It is expected to experience a CAGR (compound annual growth rate) of 12.7 per cent, reaching $512 billion by 2026. It is also poised to contribute 12 per cent of our nation’s GDP (gross domestic product). With our established market dominance and track record, we see a strong growth trajectory here," said Gopalswamy.
DiFACTO has three factories in Bengaluru, branches in Pune and Gurgaon, and a wholly-owned subsidiary in Michigan, USA. It operates in welding systems, material handling systems, foundry and machine tending systems, and fluid dispensing systems.
“India’s manufacturing sector is rapidly embracing automation and cutting-edge technologies,” said Chandrasekar Kandasamy, managing partner at Stakeboat Capital.
DiFACTO said it has worked across industries, including automotive, aerospace, railways, foundries, and metals, and with companies like Defense Research and Development Organisation, Inteltek Automation, ABB Robotics, and Fanuc India.
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