[Funding round-up[Funding roundup Fabrication Bazar raises $7 Cr. Northern Arc Capital secures $25M through the ECBs

Fabrication Bazar raises over Rs 7 crore through a seed round facilitated by Inflection Point Ventures

Engineering and manufacturing startup Fabrication Bazar has raised over 7 crore during a pre-seed round, led by Inflection Point Ventures. The money raised will be used to expand the team, enhancing technology and scaling up the operation to export markets.

Established in the year 2016, Dwaipayan Dutta (Co-founder and CEO) and Mohit Garg (Co-founder and CSO) founded the company. It has created and integrated the concept of cloud fabrication and an end-to end tracking platform that utilizes its own proprietary technology platform. The company operates on an asset-light approach and is planning to expand into the world market by utilizing an identical supply chain.

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Northern Arc Capital raises $25M via ECBs from Proparco

Northern Arc Capital, a multi-faceted financial services platform, announced it has completed an External Commercial Borrowing deal in partnership with Proparco.

Proparco is the privately sector finance subsidiary that is part of the Agence Francaise de Developpement Group (AFD Group) that is a public institution that is owned by the French Government.

Northern Arc will use the capital to assist MSMEs as well as women entrepreneurs. The lengthy duration that the fund will allow Northern Arc with the flexibility to serve these customers with a various solutions. The funds provided by Proparco will make it easier to access loans for approximately 21,000 micro-borrowers as well as MSMEs in India. It is expected that the project will contribute to retain 34,000 jobs.

In the past three years Northern Arc has raised funds from a variety of well-known international investors, including USDFC, ADB, FMO, Calvert Impact Capital and JICA.

Arista Vault raises an undisclosed amount that is not disclosed.

Technology startup Arista Vault has secured an unidentified amount of money through Germany’s Mainstage Angel Network and UK-based VC firm Pontaq for the purpose of creating an intelligent ecosystem that includes lifestyle products and services in India.

Arista Vault is convinced that the association with Pontaq will help us reach the next step with cross-border business opportunities, said Purvi RoY the Chief Executive Officer at Arista Vault.

Arista Vault was founded by Purvi Roy, Retd Army Colonel K K Singh along with CA Atul Gupta. The business has been in operation since its inception in 2018 and has been developing domestically-produced products entirely by hand in India. The company has been incubated through government officials from the Ministry of Electronics and IT, Government of India.

The startup based in Delhi is developing Smart Luggage Smart Wallets and Bagtags Smart keychains that create an efficient, safe, and secure ecosystem to address the issue of theft or loss of luggage. It also comes with innovative features like alarms for picking pockets or lost alarm, the ability to track your location, and two-way alarm.

The company has sold over 12,000 items and the smart wallets can be purchased through Arista Vault’s website. Arista Vault website and Amazon, Flipkart, Nykaa, Myntra, Amazon USA, UAE, and UK they have also exported its products in large quantities.

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