Electronics Manufacturing Platform Mekr Raises ₹67 Cr To Fuel R&D
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Electronics manufacturing platform Mekr has secured ₹67 Cr (about $7 Mn) in its Series A funding round led by Avaana Capital, with participation from Titan Capital Winners Fund.
Mekr plans to use the fresh funds to strengthen its investments in research and development (R&D), product engineering, proprietary tooling, and supplier localisation. Some capital will be deployed for expanding manufacturing automation, enhancing quality systems and strengthening export readiness for global market expansion, the startup said.
Founded in 2022 by Anand Yadav and Gaurang Kuchhal, Mekr is an original design manufacturer (ODM) for electronic products like electric kettles, hair dryer, body weighing scale, vacuum cleaners, tyre inflators and more.
It operates a digital manufacturing platform that helps companies manufacture electronic products by managing sourcing, components, assembly, and supply chains end-to-end.
It claims to have vast capacities and capabilities across multiple industries, including printed circuit board assembly (PCBA), plastics, metal and sourcing.
The startup leverages technologies like BLDC motor systems, precision gear mechanisms, heating systems, load cells, and in-house mold design to deliver its end-products.
Headquartered in Delhi NCR, Mekr’s manufacturing facility is based in Sonipat in Haryana. It claims to have developed 100+ SKUs and has partnered with more than 40 brands, including Amazon Basics, Croma, Flipkart and Wipro.
Prior to this, the startup raised ₹5.8 Cr from Better Capital, Titan Capital and 2AM VC in 2022.
It operates in the country’s expanding broader electronics market, which is projected to cross the $400 Bn mark by 2030. As a result, investors are actively backing the startups operating in the electronics manufacturing space.
For instance, electronic systems manufacturer Bacancy Systems raised ₹40 Cr ($4.2 Mn) in its Series A funding round led by Sabre Partners and Greenstone Capital in March.
Earlier this year, MeitY approved 29 additional applications under the Electronics Component Manufacturing Scheme (ECMS) spanning 16 product categories, including display modules, capacitors, connectors, resistors, flexible PCBs and lithium-ion cells. The new proposals are expected to bring in investments worth ₹7,104 Cr.
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