Cactus Partners leads USD 7 mn funding round in Brandworks Technologies

New Delhi, Aug 12 (PTI) Venture capital firm Cactus Partners has led a USD 7 million (about Rs 61 crore) funding round in electronics design-led manufacturing company Brandworks Technologies, the investment firm said on Tuesday.

The round also saw the participation from Gujarat Venture Finance Limited (GVFL), Legacy Assets, and the Hira Group.

Brandworks plans to use the fund for expansion and upgradation of its research and development centres, build partnerships and customer relationships in key international markets, and invest in next-generation product platforms with an emphasis on performance, sustainability, and global standards.

The company will also scale manufacturing through new high-efficiency production lines and strengthen its innovation engine by hiring top engineering, design, and operations talent, the statement said.

"Cactus Partners (CPL), an early-growth venture capital fund, has led a USD 7 million Series A round in Brandworks Technologies Pvt Ltd, one of India's fast-growing electronics design-led manufacturing companies that transforms ideas into market-ready products," the statement said.

The transaction with Brandworks marks CPL's eleventh investment and its third in the manufacturing sector.

"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," Cactus Partners, general partner, Amit Sharma said.

Brandworks Technologies provides solutions for AI hardware, IoT solutions, advanced audio systems, charging technologies, financial devices, surveillance systems, and renewable energy products.

It also partners with leading global chip companies to co-create solutions with a focus on design excellence, manufacturing precision, and customer success.

"This fundraise is fuel for a much larger mission to make Brandworks a global leader in electronics R&D and manufacturing. We're here to prove that world-class innovation can be imagined, designed, and built in India, and delivered to the world," Brandworks Technologies Co-Founder Ishwar Kumhar said. PTI PRS DR DR