Robotics and automation solutions company DiFacto Robotics and Automation Pvt. has secured Rs 40 crore funding from Stakeboat Capital in its 'Series A' round. The company plans to use the fresh capital infusion to fuel its growth, strengthen its market position and towards innovation in robotic automation.
According to a press release, Stakeboat Capital's investment is based on DiFacto's innovative approach, strong customer references, track record and commitment towards growth in the robotic automation sector.
Headquartered in Bengaluru, DiFacto offers industrial robotics-based solutions. It has three factories in Bengaluru, and branches in Pune and Gurugram. It has global operations, with a wholly-owned subsidiary in Michigan, US. The company operates across four key segments: welding systems, material handling systems, foundry and machine tending systems, and fluid dispensing systems.
DiFacto has delivered solutions for industries such as automotive, aerospace, railways, construction machinery, food and pharma, foundries, electronics and home appliances. The company is led by Ajay Gopalswamy, who has over three decades of experience in the industrial robotics and automation industry.
Chandrasekar Kandasamy, managing partner of Stakeboat Capital, said, “India's manufacturing sector is rapidly embracing automation and cutting-edge technologies. DiFacto's innovative approach and unwavering commitment to excellence perfectly align with Stakeboat Capital's vision for driving growth and transformation in the robotic automation space.”
Post the Covid-19 pandemic, the Indian automotive market has been on a steady growth path, including domestic sales and exports. In February, the industry recorded domestic sales of 18,94,900 units across segments, marking a 28.7% year-on-year increase. Exports also saw a 36.17% year-on-year rise, with 4,08,422 units shipped. This shows a ready appetite for automation consumption and a scope for increased robotics adaptation.
“India's automotive industry is one of the many areas that leverage robotic automation. It is expected to experience a CAGR of 12.7%, reaching $512 billion by 2026. It is also poised to contribute 12% of our nation's GDP. We see a strong growth trajectory here,” said Ajay Gopalswamy, founder and CEO of DiFacto.
While data published by International Federation of Robotics puts India in the 10th place globally, with regard to annual industrial robot installations, this position will rapidly change as the manufacturing sector continues to grow, said Srinivas Baratam, managing director, Stakeboat Capital.
Baratam believes that initiatives such as 'Make in India' and increased focus on manufactured exports will lead to a shortage of skilled manpower available to the sector. This, along with the need to improve efficiency and quality, will significantly propel the adoption of robotic automation.
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