Mekr, one stop source for complete electronics product manufacturing, has raised INR 5.8 Cr from Titan Capital and Better Capital. The seed funding round also witnessed participation from 2AM VC.
The funds raised will be utilised in strengthening sales, supply chain, tech and project management team and working capital requirements. The company is currently working for many leading organisations across industries ranging from EV, Fintech, Telecom, IOT, agri-tech and home appliance industries to fulfil their hardware product manufacturing requirements.
The journey of Mekr is encouraging as both the founders Anand Yadav & Gaurang Kuchhal are second-time founders and have themselves gone through the journey from prototype to mass production of hardware products. Having experienced manufacturing challenges first hand, they realized the difficulties in taking proof of concept projects to mass manufacture real products which are used by consumers. Even simple products require integration of manufacturing processes from multiple industries like plastics, PCBs, Metal, import etc.
Commenting on the funds raised, Gaurang Kuchhal, C0-founder & CEO, Mekr, “People often have a pre-conceived notion that it is not possible to beat China product costings. However, this is not true in reality. At Mekr, for all our projects, we have been able to match China pricing while delivering great product quality and a seamless manufacturing experience.”
Speaking on investing the funds in Mekr, Bipin Shah, Partner – Titan Capital, “Today electronics import comes second only after oil in India. It is very surprising that we have so much dependence on imports for electronics. Now, globally there is a shift of supply chains due to Covid and global geopolitical situations.
Further adding to it he said, “India can make most of it due to its favourable conditions like – Manpower-talent, electricity rate, land availability (SEZ), domestic market size and government policies and support. Companies like Mekr will be pivotal in strengthening the Indian manufacturing ecosystem and making most of the manufacturing wave.”
“Mekr is building the Aatmanirbhar Manufacturing Platform of India to empower domestic product companies of all sizes with quality, scaling and price economics to compete with global competitors for the domestic as well as global markets. We are fortunate to be the founding stage partner to Anand and Gaurang as they build an important piece of the puzzle for leapfrogging Indian companies towards manufacturing leadership”, said Vaibhav Domkundwar of Better Capital, an early backer of breakout innovators like Teachmint, Wint, Open, Slice and many others across categories.
Mekr has a complete ecosystem for electronic product manufacturing like facilities for manufacturing of Plastics, PCBA’s, Metal, China sourcing and strong R&D team.
People looking to make electronics products can reach out to Mekr with their product specifications, samples or manufacturing files. Mekr works with its network of manufacturing partners, works on integration of different parts like software, plastics, electronics and seamlessly delivers complete product to the customer.