Industrial AI startup Haber has raised $44 million (approximately ₹370 crore) in a Series C funding round led by Creaegis, BEENEXT, and Accel, the company announced on Wednesday.
The round included $38 million in equity and $6 million in debt.
The Pune-based company plans to utilize the funds to expand operations in the Americas and diversify its product offerings across new verticals in process manufacturing industries.
About Haber:
Founded in 2017 by Vipin Raghavan, Priya Venkat, and Arjunan PN, Haber specializes in AI-driven industrial robots designed to automate the manual processes of sample collection, measurement, analysis, and intervention in factories.
The company’s solutions are already deployed across over 100 clients in India, the Middle East, and Africa.
“Haber has set new benchmarks for efficiency and sustainability in manufacturing,” said Priya Venkat, Co-Founder and COO of Haber. “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.”
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Haber claims its AI technologies have helped customers save 24 billion liters of water and eliminate 75,000 tonnes of carbon emissions.
Its existing solutions are widely implemented in the pulp, paper, and packaging industries, with plans to expand to other sectors globally.
Haber last raised $20 million in a Series B funding round led by Ascent Capital in 2021. For FY23, the company reported a revenue of ₹82 crore but posted a net loss of ₹36.7 crore. Financials for FY24 are yet to be filed.
Haber faces competition from other players in the industrial AI sector, including Prosus-backed Detech Technologies, Altizon, and Fero Labs.
