Economy Process Solutions Secures INR 100 Cr in Series A Round Led by Stakeboat Capital With the raised funds, the platform aims to accelerate growth, expand the range of in-house manufactured products, increase the company's global footprint, and enter new categories, particularly in food and beverage solutions.
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Mumbai-based Economy Process Solutions, a provider of vacuum and process solutions, has successfully secured INR 100 crore (USD 12 million) in its Series A funding round. The investment, led by Stakeboat Capital Fund II, is set to accelerate the company's growth, expand its product portfolio, and bolster its global presence.
Founded in 2015, Economy has rapidly established itself as a key player in the vacuum systems and process equipment market, offering a range of bespoke solutions tailored to various industries. With manufacturing facilities in Chakan, Pune, the company has recently expanded its product offerings to cater to the beverage industry, including solutions for processing, bottling, and packaging.
Rajesh Ahuja, Founder and CEO of Economy, said, "We are delighted to have Stakeboat Capital join us as a significant shareholder. This capital infusion will help us accelerate our growth, broaden our in-house manufactured product range, and expand into new markets like food and beverage solutions. We look forward to collaborating with Stakeboat to take the Economy to greater heights."
The company's diverse portfolio includes vacuum pumps, boosters, blowers, and accessories, alongside process equipment such as evaporators, dryers, extractors, reactors, and heat exchangers. As the company continues to grow, its focus on sectors such as waste management, pharmaceuticals, and chemicals is expected to drive significant revenue.
With a keen eye on the future, Economy plans to enhance its domestic and export business over the next 4-5 years, leveraging increased capital expenditures in these key industries.
Srinivas Baratam, Managing Director of Stakeboat Capital, highlighted the competitiveness of Made in India products in the global market. "Indian capital equipment manufacturing provides a suitable combination of customised designs and sizes at highly competitive prices. We believe that global companies can greatly benefit from Indian ingenuity, especially when it comes to certain sizes and volumes. Economy is differentiated by its ability to turnaround inquiries and implement solutions quickly, often beating customer expectations."
Economy has already served over 600 customers across 30+ countries, demonstrating its global reach and commitment to delivering tailored solutions that meet customer needs.
Chandrasekar Kandasamy, Managing Partner at Stakeboat Capital, expressed optimism about the company's future, stating, "We believe in the Economy's vision and dedication to creating substantial value for its customers. With continued growth in the Indian economy and government incentivization, we're excited about the opportunities ahead."
