Construction solutions provider EPACK Prefab grabs $20M funding to expand manufacturing
The company will use the funds for capex expansion and to drive growth initiatives by enhancing production capabilities, accelerating new product development, and expanding its presence.
EPACK Prefab, a turnkey solution provider for pre-engineered building (PEB), pre-fabricated modular structures and insulation products, has raised $20 million in its first funding round from GEF Capital Partners, a leading global private equity fund.
This infusion of capital is set to strengthen the company’s manufacturing capabilities at its advanced facilities in Greater Noida, Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh), which collectively have an annual production capacity of over 133,924 metric tonnes.
The company will use the funds for capex expansion and to drive growth initiatives by enhancing production capabilities, accelerating new product development, and expanding its presence across the country. Additionally, it will also direct the capital towards enhancing research and development initiatives aimed at creating energy-efficient, prefabricated construction technologies.
"This funding is a testament to our vision and the capabilities of Prefabrication and PEB technologies. It strengthens our resolve to revolutionise construction practices by delivering innovative, sustainable, and rapid building solutions. This milestone energises us to set new benchmarks for the industry," said Sanjay Singhania, Managing Director of EPACK Prefab, in a statement.
Earlier, EPACK Prefab claimed it set a new industry benchmark by constructing India's fastest building in just 150 hours. The project started on November 20 in Mambattu, Andhra Pradesh.
“Modular construction technologies play a key role in decarbonisation of the construction sector with their lower GHG footprint and higher climate resilience. We are excited to partner with EPACK Prefab in their effort to catalyse sustainable practices in the construction industry through their offerings,” added Krishnan Ganesan, Managing Director at GEF Capital Partners.
Edited by Kanishk Singh