Industrial AI startup Haber has raised $44 million in its Series C funding round — in a mix of $38 million in equity and $6 million in debt — led by Creaegis, BEENEXT, and Accel. Founded in 2017, Haber focuses on maximising plant efficiency and output to help save energy and water and reduce emissions. The company said it has over 100 clients in India, the Middle East, and Africa. The solutions are currently implemented across pulp, paper, & packaging industries.
Haber said it plans to deploy the capital primarily to scale the company’s operations internationally, with a key focus on the Americas, where the demand for AI-led industrial automation solutions is growing rapidly.
“We also plan to extend our solution to other process manufacturing industries,” said Priya Venkat, Co-Founder and COO, Haber.
Through its proprietary technologies, Haber said it ensures that manufacturers can make accurate data-driven decisions without delving into complex data analysis, freeing up time and resources for strategic initiatives.
“Haber, with their proprietary AI/ML algorithms and deep process expertise, is leading this disruption by providing end-to-end, AI-led industrial automation solutions in large and small-scale manufacturing setups. The company enables customers to improve processes quality parameters, utilization, and reduce wastages,” said Prakash Parthasarathy, Managing Partner & CIO, Creaegis.
Haber said it has nearly doubled its revenue from key customers in the past year while maintaining a zero-churn rate.
The industrial automation market in India is estimated to grow from $15.12 billion in 2024 to $29.43 billion by 2029 at a compound annual growth rate of 14.26% during the forecast period, as per Mordor Intelligence.