India-based Haber, a startup specializing in AI-driven industrial robots with low energy footprints, raised USD 20 million on 23rd November.
Investors: The investment round led by Ascent Capital was joined by Accel, Elevation Capital, Beenext, Temasek partner Mukul Chawla and GreyOrange founders Samay Kohli and Akash Gupta. As of today, the startup has raised USD 27 million.
Purpose of funding: The startup plans to expand its reach across new geographies and Industries. The startup aims to conserve 400 billion litres of water within the next two years and deploy over 10,000 eLIXAs within five years.
About Haber
Founded in 2017 by Vipin Raghavan, Priya Venkat and Arjunan PN, Haber is located in Pune, India. Haber is a startup specializing in AI-driven industrial robots with low energy footprints. Using an AI & IoT-based approach, eLixa (the product) anticipates results and provides consumers with real-time value by reducing time spent collecting and analyzing data. It is straightforward to customize the startup solutions. It facilitates quick implementation and immediate results. As part of its innovative, unique, and cost-effective processes, the company is devising new methods for collecting and configuring data to make it easier to act. By guaranteeing performance, reducing operational costs, and reducing the water and energy footprint, the startup has been able to ensure efficiency. In addition to manufacturing, the company specializes in chemical dosing automation for various applications, including paper mills, sugar mills, distilleries, breweries, and independent institutions.
What the founder has to say
“With a deep understanding of AI and the functioning of industries, Haber has been able to put together a solution that automates the entire process. Our flagship product, eLIXA, was launched in 2017 which enables our customers to meet their sustainability and profitability goals. Testing and taking corrective actions, which earlier used to take hours, has now been reduced to few minutes with a significant increase in accuracy,” said Vipin Raghavan, founder and CEO at Haber.
What the investor has to say
“Industrial automation is the next big global opportunity and we are excited to partner with Haber, a leader in this space. Haber has a compelling value proposition, with its superior proprietary technology, exceptional multi-disciplinary team and deep subject expertise, to disrupt this space not just in India but globally. Going forward, not just productivity but sustainability and environmental consciousness will play an equally important role in decision making, which puts Haber at a distinct competitive advantage” said Raja Kumar, founder and CEO at Ascent Capital.
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