Chennai-based cloud manufacturing startup Frigate announced it has raised $175K in an oversubscribed pre-Seed round from strategic investors. These include names like Vel Kanniappan, Angel Investor, Srinath Ramakkrushnan, Founder of Zetwerk, Abhishek Raj Pandey, Head of Sourcing and Procurement, Mamaearth, Vijay Pravin Maharajan of Bitscrunch, Prabhu Sengodan of SPK groups, Founders of M2P Fintech, Mohan and Jaikumar of Ippopay, Sundararaman Ramasamy, Founder of Wilcosource US and other Angel investors from US, Japan, Germany, and Singapore.
Founded in 2021, Frigate is an On-Demand Cloud manufacturing marketplace platform that provides fabrication, 3D printing, and CNC machining services quickly, risk-free and affordable for OEMs, SMEs, and startups.
This new funding will be used to further strengthen Frigate’s technology stack, it said in a statement. The startup is developing an AI-enabled platform by identifying the topology of the design and sending it to the right machines available in our platform to manufacture the same by connecting machines via IIoT. Frigate is planning to set up offices in Chennai and Bengaluru to increase the headcount to 100+ within the next fiscal.
Tamizh Inian, Founder & CEO of Frigate, “We started as a prototyping company, and have pivoted at the right time as our customer wants their designs to be manufactured as well. We would like to acquire 200 more customers and be a $100M company in the next three years.”
The company has onboarded 150 SMEs on their platform for making their metal and plastic parts from Tier2 and Tier3 cities. Frigate has already exported parts to Singapore and Spain and wants India to be a manufacturing hub for the globe.
Vel Kanniappan, an active angel Investor said, “Frigate is a platform built by a young and energetic team that can optimize cost, time, quality, and efficacy from Prototype to manufacturing.”
Abhishek Raj Pandey, Head of Sourcing and Procurement, Mamaearth, said, “Tamizh's Founders have transformed this traditional setup into a startup and has been building the future of the manufacturing marketplace.”