New Delhi-based Mekr Technologies has raised ₹67 crore (around US$7.06 million) in a funding round led by Avaana Capital, with participation from existing investor Titan Capital Winners Fund.
The company will use the funds to improve its research and development, increase automation in production, build stronger local supplier networks, improve quality systems, and expand its export business.
“We strongly focus on categories where India was earlier dependent on imports,” cofounder Anand Yadav. “Brands are approaching companies like us that can indigenize their products and manufacture these things in India.”
“India is a very well-suited destination not only for the domestic market but even for exports,” Yadav said, adding that labor-intensive appliance manufacturing gives India a cost advantage over several Southeast Asian countries. Kuchhal added that India’s free trade agreements and improving global perception are tailwinds for exports.
Founded in 2022 by Anand Yadav and Gaurang Kuchhal, Mekr designs and manufactures products for brands in categories like home and kitchen appliances, personal care products, and car accessories.
The company develops products using different modular engineering technologies, including BLDC motor systems, heating systems, and load cells.
It also uses its own mould design technology to create and manufacture products more efficiently.
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