Manufacturing Startup ThinkMetal Raises ₹27 Crore for Commercialization
Chennai-based ThinkMetal, a metal additive manufacturing startup, has raised ₹27 Crore (approximately $2.8 million) in a funding round. The capital is intended to advance product development and commercialization efforts.
ThinkMetal, a manufacturing startup based in Chennai, has secured ₹27 Crore (approximately $2.8 million) in a funding round led by India Angel Network's IAN Alpha Fund. Deeptech-focused VC 3i Partners also participated in the round.
The funding will support ThinkMetal in developing its product stack, expanding its material capabilities, and strengthening its research and development. The company also plans to increase its workforce with the new capital.
"This investment is an important step in ThinkMetal’s journey from technology development towards commercialisation," said co-founder and CEO Sabyasachi Ghosh. "We will use this capital to strengthen our product development, expand our team and materials capabilities and accelerate adoption across industrial applications."
Founded in 2021, ThinkMetal builds industrial printing systems for manufacturing tools like molds, dies, jigs, and fixtures. The startup claims its metal additive manufacturing system can produce parts up to 10 times faster and at half the cost of conventional methods. Its systems are used in the automotive, aerospace, and defense sectors.
ThinkMetal operates within India's additive manufacturing market, which is projected to experience significant growth. The company had previously raised approximately $1.1 million to scale production of its initial system.