The Hyderabad-based platform aims to deploy the raised funds for upcoming spacecraft manufacturing facilities, strategic business acquisitions, and enhancing product offerings.
With the raised funding, the Bengaluru-based clean-tech startup aims to expand into primary packaging for FMCG, food, and beverage product categories, expanding its manufacturing capabilities, R&D, and team.
According to Mumbai Angels, during the past two years, both its new investments and next round investments have increased at a similar rate. Additionally, it will maintain its growth momentum for the rest of this year.
The undisclosed fresh capital will be used to scale operations in new geographies, enhance tech infrastructure, build high-performance teams across functions, and focus on other business development activities