Artificial intelligence-driven robotics startup Haber has raised $44 million in its Series C funding round led by Creaegis, BEENEXT, and Accel, per a company announcement.
The funding round, comprising $38 million in equity and a $6-million debt component, will be used to fuel the company’s expansion internationally, with a key focus on the Americas.
“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.
Founded in 2017 by Raghavan, Arjunan PN, and Priya Venkat, Haber develops AI-driven industrial robots which automate the manual process of sample collection, measurement, analysis, and intervention at factories.
The company claims that its AI+IoT-based technology helps customers spend less time collecting and analysing data by predicting results and driving value in real-time.
Haber helps industries reduce chemical consumption as well as energy and water usage across sectors such as food and beverages, agriculture, and oil and gas, according to its website.
The company boasts over 100 clients in India, the Middle East, and Africa. Its clients include industrial leaders like ITC, Aditya Birla Group, and Tata Steel, with services spanning sugar mills, distilleries, paper mills, breweries, and mining operations.
To date, the company has raised about $70 million, including a $20-million Series B round led by Ascent Capital with participation from Accel, Elevation, and Beenext in November 2021.
