Industrial AI startup Haber raises $44M in Series C; sets sight on American market

AI-powered industrial robotics startup Haber has secured $44 million in Series C funding led by Creaegis, BEENEXT, and Accel, as it prepares to expand its presence in the American market.

The Pune-based company, which automates industrial processes for over 100 clients across India, the Middle East, and Africa, secured $38 million in equity and $6 million in debt in this round.

In 2021, Haber had raised $20 million in a Series B funding round led by Ascent Capital. 

"Even in the Western markets, there's a big scarcity of experienced talent and human capital needed to operate and run manufacturing plants. Hence, we are seeing a big uptick for increased adoption of automation and software solutions," said Vipin Raghavan, CEO of Haber. "Last year, we began exploring the North American market and secured our first customer there... We’ve added a few more in the region."

Founded in 2017 by Raghavan, Arjunan PN, and Priya Venkat, Haber develops AI-driven robots that automate factory tasks from sample collection to analysis. The company's technology has helped clients save over 50 billion litres of water and eliminate half a million tonnes of carbon emissions.

Priya Venkat, who is also the COO, said Haber's success has laid the foundation for its 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,”  she added. 

Raghvan indicated where that would be. "We're exploring opportunities in two more industry verticals: metals and metal processing, as well as food and beverage processing. The main focus is to go deeper and capture wallet share and market share in bulk packaging globally," he said.

BEENEXT's Managing Partner Hero Choudhary emphasised the company's performance: "The company's ability to prioritise and deliver on both profitability and margin growth is truly impressive. They have built immense trust with their customers, consistently delivering measurable results. This is why we've chosen to double down on our investment."

The company has doubled its revenue from key customers over the past year while maintaining zero churn. Its clients include industrial leaders like ITC, Aditya Birla Group, and Tata Steel, with services spanning sugar mills, distilleries, paper mills, breweries, and mining operations.