Industrial robot maker Haber raises $20 million in Series B funding

Pune: Pune-headquartered Haber, which makes AI-driven industrial robots said it has raised $20 million in Series B funding, taking its total funds raised to $27 million. Ascent Capital was the lead investor in the round, along with , Elevation Capital, BEENEXT, Temasek partner Mukul Chawla and the founders of GreyOrange, another robot as a service company, Samay Kohli and Akash Gupta.

Accel had led their Series A funding in 2019. The robots automate the tedious manual process of sample collection, measurement, analysis and intervention at factories.

“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,” said Vipin Raghavan, founder and CEO of Haber. “Testing and taking corrective actions, which earlier used to take hours, has now been reduced to a few minutes with a significant increase in accuracy.

The funds will be used to expand its reach across new geographies and industries, with a goal to save over 400 billion litres of water in the next two years and to deploy over 10,000 eLIXAs in the next 5 years.

“Currently, the majority of industrial activities, though driven by machines, require intense manual monitoring and are dependent on scarcely available human experts. As industry scales to meet growing demand, this further accentuates the problem leaving industries at the mercy of few skilled experts. If interventions are not done on time it affects productivity and quality and results in overuse of resources leading to escalating costs and severe environmental impact. This is the segment that Haber is addressing,” 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 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,” said Raja Kumar, founder and CEO of Ascent Capital.

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Haber has helped its customers save fifty billion litres of water and eliminate half a million tons of carbon emissions. Reducing carbon emissions is one of the key environmental issues, which will even take the limelight at the COP26 summit in November 2021.

Manual processes are slow and inaccurate leading to overconsumption of raw materials, water and energy. In the long run, it also affects the equipment effectiveness thereby demanding frequent maintenance breaks in the absence of which energy consumption and carbon emissions increase. Haber’s solution helps tackle these issues.

“Unless shortcomings in the manufacturing sector are being worked upon, we cannot grow exponentially. Haber has brought forward a well designed AI solution that supports manufacturing in battling resource shortages and inefficiencies, boosting the economy,” said Pratik Agarwal, Principal at Accel.

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