The CEO of Haber Vipin Raghavan, Co-founders Priya Venkat and PN Arjunan
Kochi: Pune-based start-up Haber (haberwater.com), led by Kannur native Vipin Raghavan, has raised $20 crore (Rs 150 crore) through the 'Series B' financing. Axel, Elevation Capital, Beenext, Temasek's partner Mukul Chawla, Robotics company GreyOrange’s co-founders Samay Kohli and Aakash Gupta also took part in the investment round led by Ascent Capital.
The start-up is developing Artificial intelligence (AI) based robots that will help to automate industrial production. Vipin, a former director of the gaming company Zynga, started ‘Haber’ in 2015 June with his friends P N Arjunan and Priya Venkat, a native of Bengaluru. In 2017, they developed the first robot called the Elixa. This robot automates the sample collection, measurement, analysis and so on in a factory. It would reduce the use of resources like water and energy in factories, thus increasing the profitability of companies.
Vipin Raghavan, co-founder and CEO of Haber, said the new funding will be used for expanding the business to more geographical and industrial areas. The company aims to install 10,000 Elixa robots in the next five years.
Vipin was a scientist at the Sree Chitra Thirunal Institute, Thiruvananthapuram, for some time after his graduation and later moved to the US. After acquiring an MBA, he worked there for a long time and then returned to India to start his own business. From the A and B rounds of the investments, the company has raised a total of $2.7 crores (approximately Rs 200 crore).