Industrial AI startup Haber has raised $44 million in its Series C funding round, which included $38 million in equity and $6 million in debt. The funding round was led by Creaegis, Beenext and Accel.
Haber plans to deploy the capital primarily to scale the company's operations internationally, with a key focus on the Americas, where the demand for AI-led industrial automation solutions is growing rapidly.
Founded in 2017 by Vipin Raghavan, chief executive officer; Priya Venkat, chief operating officer; and Arjunan PN, vice president, technical; Haber has nearly doubled its revenue from key customers in the past year.
The company began its operations in India and helps drive efficiency and sustainability across clients in India, west Asia and Africa. Its solutions are implemented across pulp, paper, and packaging industries, with plans of expanding to other manufacturing verticals.
"Haber has set new benchmarks for efficiency and sustainability in manufacturing," Venkat said. "This success lays the foundation for our next big step — expanding into the Americas, where the demand for industrial AI solutions is immense. We also plan to extend our solution to other process manufacturing industries."
Through its proprietary technologies, Haber helps manufacturers make data-driven decisions without delving into complex data analysis, freeing up time and resources for strategic initiatives.
"The global manufacturing sector is undergoing a data revolution with a need for intelligent automation solutions for process control," Prakash Parthasarathy, managing partner at Creaegis, said. "Haber, with their proprietary AI/ML algorithms and deep process expertise, is leading this disruption by providing end-to-end, AI-led industrial automation solutions in large and small-scale manufacturing setups."
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