[Funding roundup] Fabrication Bazar raises Rs 7 Cr, Northern Arc Capital secures $25m through ECBs

Fabrication Bazar raises over Rs 7 Cr in funding round led by Inflection Point Ventures

Manufacturing and engineering startup Fabrication Bazar has raised over Rs 7 crore in a funding round led by Inflection Point Ventures. Funds raised will be used to expand the team, improve technology and expand operations to the export market.

Founded in 2016, Dwaipayan Dutta (co-founder and CEO) and Mohit Garg (co-founder and CSO), the company developed and integrated a cloud manufacturing concept and an end-to-end tracking platform using its own platform -unique technological form. The company follows an asset-light model and plans to expand to the global market with a similar supply chain.

Northern Arc Capital raises $25m via BCE from Proparco

Northern Arc Capital, a diversified financial services platform, announces that it has entered into a $25 million external commercial debt transaction with Proparco.

Proparco is the private sector financing subsidiary of the Agence Française de Développement Group (AFD Group), which is a public financial institution owned by the French State.

Northern Arc will use the capital to serve MSMEs and women entrepreneurs. The facility’s long occupancy time will provide Northern Arc with the flexibility to serve these customers with a diverse set of solutions. Proparco’s financing will improve access to finance for around 21,000 micro-borrowers and MSMEs in India. It is estimated that the project will help maintain 34,000 jobs.

Over the past three years, Northern Arc has raised funds from a range of reputable international investors including USDFC, ADB, FMO, Calvert Impact Capital and JICA.

Arista Vault raises undisclosed sum

Technological start Vault of Arista raised an undisclosed amount of funding from Germany-based Mainstage Angel Network and UK-based venture capital firm Pontaq, to ​​create a smart ecosystem with lifestyle products in India.

“Arista Vault believes that partnering with Pontaq will take us to the next level with cross-border business opportunities,” said Purvi RoY, CEO of Arista Vault.

Arista Vault was founded by Purvi Roy, retired Army Colonel KK Singh and CA Atul Gupta. The company has been operational since 2018 and has developed local products entirely made in India. It has already been incubated by the Ministry of Electronics and Information Technology, Government of India.

The Delhi-based tech startup is creating smart luggage smart wallets and Bagtags smart key fobs to establish a safe and smart ecosystem to solve the problem of lost, stolen and misplaced luggage, with smart features like such as pickpocketing alarm, lost alarm, location tracking, two way alarm.

The company has sold 12,000 products and the smart wallets are available on the Arista Vault website and Amazon, Flipkart, Nykaa, MyntraAmazon USA, UAE and UK, it also exported the products in bulk.

Edited by Affirunisa Kankudti