Cactus Partners led a $7 million Series A funding in Brandworks Technologies, with participation from Hira Group, Legacy Assets, and GVFL
Funds will be used for R&D expansion, global partnerships, next-gen product development, high-efficiency manufacturing, and hiring top talent
Brandworks operates in AI hardware, IoT, audio systems, charging tech, surveillance, renewable energy, and other electronics solutions
Venture Capital firm Cactus Partners has led a $7 million Series A funding round in design-led manufacturing company, Brandworks Technologies, the investment firm said. The funding round also saw the participation from the Hira Group, Legacy Assets, and Gujarat Venture Finance Limited.
The platform will use the fresh capital to expand and upgrade its R&D centres, build partnerships and customer relationships in key international markets, and invest in next-generation product platforms with an emphasis on global standards, along with sustainability and performance, the fund said.
In addition, the company will also scale its manufacturing through new high-efficiency production lines and strengthen its innovation engine by hiring top engineering, design, and operations talent, it added.
“This fundraise is fuel for a much larger mission to make Brandworks a global leader in electronics R&D, and manufacturing. We are here to prove that world-class innovation can be imagined, designed, and built in India, and delivered to the world,” said Ishwar Kumhar, cofounder of Brandworks Technologies.
Brandworks Technologies is a next-generation electronics R&D and manufacturing player, which innovations across AI hardware, IoT solutions, advanced audio systems, charging technologies, financial devices, surveillance systems, and renewable energy products.
“Electronics manufacturing as an industry is expected to grow at a healthy pace in the foreseeable future, thanks to the “Make in India” initiatives and changing supply chains and geopolitics. High quality and well-managed companies, such as Brandworks, are well poised to grow at a significantly faster pace than the industry,” said Amit Sharma, General Partner at Cactus Partners.
So far, Cactus Partners has backed companies such as Lohum, Indigrid, Intangles, Kapture, Vitraya, AMPM, Auric, Parkmate, Ananant Systems, and Rubix (exited). It is majorly focused on early-growth stage start-ups. It has also achieved a final close of ₹630 crores for its Fund I in December 2023.
