Haber raises USD 44 mn in equity-debt funding round

New Delhi, Dec 11 (PTI) Industrial AI startup Haber has raised USD 44 million (about Rs 370 crore) in a new funding round led by Creaegis, BEENEXT, and Accel, the company said on Wednesday.
     The total fundraise comprised USD 38 million, (nearly Rs 322 crore), in equity and USD 6 million (about 51 crore) in debt. The company plans to use the funds for expansion in America and to diversify its portfolio.
     "Haber, a leading industrial AI startup, has successfully raised USD 44 million in its Series C funding round, which included USD 38 million in equity and USD 6 million in debt. The funding round was led by Creaegis, BEENEXT, and Accel," the company said in a statement.
     Haber claims to have over 100 clients spread across India, Middle East, and Africa.
     Haber plans to deploy the capital primarily to expand its operations internationally, with a key focus on the Americas, where the demand for AI-led industrial automation solutions is growing rapidly.
     "Haber has set new benchmarks for efficiency and sustainability in manufacturing. This success lays the foundation for our next big step, expanding into the Americas, where the demand for industrial AI solutions is immense. We also plan to extend our solution to other process manufacturing industries," said Priya Venkat, Co-Founder and COO of Haber.
     Haber solutions are implemented across pulp, paper and packaging industries and the company plans to extend its offering to other process manufacturing verticals worldwide.
     "We are excited to partner with them in their next phase of growth as they further solidify their leadership in the India/MENA (Middle East and North Africa) markets and expand their presence across new geographies," Prakash Parthasarathy, Managing Partner & CIO, Creaegis said.
     Hero Choudhary, Managing Partner at BEENEXT, said that his firm has doubled down investment in Haber because of the trust it has built with the customers by consistently delivering measurable results.

(This story has not been edited by THE WEEK and is auto-generated from PTI)