Domestic AI-driven industrial robots developer Haber has closed its Series B funding, taking its total fundraising amount to $27 million.
Ascent Capital, the lead investor in the Series B funding, was joined by Elevation Capital, Accel, Beenext, Temasek partner Mukul Chawla and several others. Accel led the Series A funding in 2019.
Raja Kumar, Ascent Capital CEO, said: “Industrial automation is the next big global opportunity and we are excited to partner with Haber, a leader in this space.”
“Going forward, not just productivity but sustainability and environmental consciousness will play an equally important role in decision making, which puts Haber at a distinct competitive advantage.”
Haber robots automate the manual process of sample collection, analysis, measurement, and intervention at factories.
At present, while industrial activities are majorly machine-driven, they still require manual monitoring. As the industry scales up to meet demand, this leaves industries at the mercy of a very few skilled experts.
Haber identified this opportunity and filled the gap using artificial intelligence. Haber’s solution enables industries to scale up and also drive sustainability.
Haber CEO Vipin Raghavan said: “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. Testing and taking corrective actions, which earlier used to take hours, has now been reduced to few minutes with a significant increase in accuracy.”
Haber believes manual processes are slow and inaccurate that lead to overconsumption of raw materials, energy, and water. It also affects the effectiveness of equipment in the long run, thus demanding frequent maintenance breaks. The lack of maintenance breaks leads to higher energy consumption and emissions.
Haber has helped customers save 50 billion litres of water and eliminate half a million tonne carbon emissions.