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Manufacturing, procurement startup Prodo raises $1 million in seed funding

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NEW DELHI: On-demand manufacturing startup, Prodo has closed a $1 million seed spherical. The spherical was led by Inflection Point Ventures with participation from Titan Capital, LetsVenture and Dholakia Ventures.

Based by Sameen Husain and Abhiroop Srivastava in Might 2021, Prodo is an on-demand manufacturing and procurement platform. It helps mid and enormous firms with their bulk manufacturing necessities. As soon as an order is positioned with Prodo, it’s matched to the correct manufacturing unit utilizing knowledge. The shoppers can reside monitor the journey of the manufacturing cycle – from design to supply.

With 500 manufacturing items as part of its community, Prodo is constructing a globally related distributed manufacturing ecosystem by standardizing small and medium producers. The corporate’s purpose is to create provide chains that present quickest turnaround instances for the shoppers and operational effectivity on every of its SKUs; in order that the shoppers get true worth for cash.

Sameen Husain, Cofounder & CEO, Prodo acknowledged, “India is house to six million MSME producers. At present, a lot of the MSME producers function on 50%-60% of their manufacturing capability, by way of standardization and demand-supply mapping we plan to unlock a $2 billion manufacturing potential within the subsequent 4 years. We’re constructing a dependable and data-led manufacturing ecosystem.”
Prodo empowers its accomplice producers by offering them with sustainable demand, working capital, uncooked materials, SOPs and expertise to carry them as much as the requirements of world manufacturing. The corporate, which works on quarterly to yearly orders for mid and enormous shoppers, plans to clock in an orderbook of 400 crores by FY’24.

Ankur Mittal, Cofounder, IPV acknowledged, “India’s manufacturing sector is predicted to achieve a $1 trillion greenback market measurement by 2030. I consider together with the federal government’s push, startups like Prodo can develop into drivers in unlocking the potential of the sector. We’re excited to be part of this story.”

In a press release, Bipin Shah, accomplice, Titan Capital mentioned, “Corporations onboard a number of distributors; whereas always on the lookout for a direct from producer expertise. By turning into a mass producer, Prodo is fixing for this. Furthermore, the B2B shopping for expertise right this moment stays largely offline. We consider fullstack marketplaces like Prodo, which function in classes the place on-time supply and high quality are essential, can carry the entire shopping for expertise on-line.”

That is Prodo’s second spherical of funding. Earlier the corporate had raised its pre-seed spherical of $400,000 led by Titan Capital and LetsVenture in November 2021.

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