Haber funding: industrial robot maker Haber raises $ 20 million in Series B funding

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Pune: Haber, headquartered in Pune, which makes industrial robots based on AI, said it had raised $ 20 million in Series B funding, bringing its total funds raised to $ 27 million. Ascent Capital was the primary investor in the round, along with Elevation Capital, BEENEXT, partner of Temasek Mukul Chawla and the founders of GreyOrange, another robot services firm, Samay Kohli and Akash Gupta.

Accel led its Series A funding in 2019. Robots automate the tedious manual process of collecting, measuring, analyzing and responding to samples in factories.

“With a deep understanding of AI and how industries work, Haber was able to put together a solution that automates the entire process. Our flagship product, eLIXA, was launched in 2017, helping our customers achieve their sustainability and profitability goals, ”said Vipin Raghavan, Founder and CEO of Haber. “Testing and implementing corrective actions, which previously took hours, is now reduced to minutes with a significant increase in accuracy.

The funds will be used to expand its reach into new geographies and industries, with the goal of saving over 400 billion liters of water over the next two years and deploying over 10,000 eLIXAs over the next 5 years.

“Currently, the majority of industrial activities, although driven by machines, require intense manual monitoring and depend on scarce human experts. As the industry evolves to meet growing demand, this further exacerbates the problem, leaving industries at the mercy of a few skilled experts. If interventions are not carried out on time, it affects productivity and quality and leads to overuse of resources leading to escalating costs and severe environmental impact. This is the segment Haber is targeting, ”the company said in a statement.

“Industrial automation is the next big global opportunity… Haber has a compelling value proposition, with its superior proprietary technology, exceptional multidisciplinary team and deep subject matter expertise, to disrupt this space not only in India but globally. In the future, not only productivity, but also sustainability and environmental awareness will play an equally important role in decision-making, ”said Raja Kumar, Founder and CEO of Ascent Capital.

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Haber has helped customers save fifty billion liters of water and eliminate half a million tonnes of carbon emissions. Reducing carbon emissions is one of the key environmental issues, which will even be in the spotlight at COP26 in November 2021.

Manual processes are slow and imprecise, resulting in overconsumption of raw materials, water and energy. In the long term, it also affects the efficiency of equipment thus requiring frequent maintenance interruptions in the absence of which energy consumption and carbon emissions increase. Haber’s solution helps to solve these problems.

“Unless the deficiencies in the manufacturing sector are corrected, we cannot grow exponentially. Haber delivered a well-designed AI solution that helps manufacturing tackle resource shortages and inefficiencies, thereby boosting the economy, ”said Pratik Agarwal, director at Accel.

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