Deeptech Hardware Startup ThinkMetal Raises $300K to Enhance Its Compact Metal 3D Printer
ThinkMetal, a deeptech hardware startup, has made headlines by securing $300,000 (Rs 2.5 crore) in the pre-seed funding round.
As per the startup, the freshly raised funds will be used for product development, specifically for the enhancement of its e-compact metal 3-dimensional (3D) printer.
Led by early-stage venture capital backer 100X.VC, the funding round also saw participation from listed company SAT Industries and angel investors KRS Jamwal and Uday Sodhi.
ThinkMetal | Compact metal 3D printer
Founded by Sabyasachi Ghosh and Arushi Sharma in 2021, ThinkMetal is a Chennai-based startup offering a compact metal 3D printer that prints metal parts. The startup innovates 3D printing to print metals, & functionally graded materials and is building an ‘Ecosystem’ for end-to-end solutions in 3D printing.
As per ThinkMetal, it weeds out the hassles of time-consuming processes, expensive 3D metal printers, slow and bulky print failures, and increased costs.
Speaking about the development, Sabyasachi Ghosh, co-founder and CEO of ThinkMetal, highlighted the startup’s goals to target tier-I toolmakers and prototype manufacturers serving original equipment manufacturers.
“This strategic approach translates to a total addressable market (TAM) of approximately $700 million. We are currently improving our capacity to do trials and pilots with various manufacturing companies.”
Statement from the Investor
Commenting on the development, Ninad Karpe, Founder & Partner at 100X.VC, said,
“As the first institutional investor in ThinkMetal, we are excited with the prospect of this deep-tech startup targeting the tooling industry. India has a robust manufacturing sector and disruptive technologies are essential to spur innovation and growth of this sector. ThinkMetal is rightly poised for a rapid growth in the years to come.”
The startup is committed to simplifying manufacturing and currently ramping up its capacity to do trials and pilots with various manufacturing companies.
As per Arushi Sharma, Co-founder & CTO of ThinkMetal, the startup is on a mission to revolutionize manufacturing processes for prototypes, tools, jigs, and fixtures. She added that their ingenious compact metal 3D printer enables the creation of intricate parts quicker and right from the convenience of one’s desk.
There are several players in the 3D printing space, including Objectify Technologies ( IIT Kanpur incubated), Bengaluru-based Pandorum Technologies, Gaags Technologies, and others.
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.