Economy Process Solutions (Economy), a leading provider of vacuum and continuous process equipment, has raised Rs 100 crore in Series A funding from Stakeboat Capital Fund II.
Rajesh Ahuja, Founder and Chief Executive Officer, Economy, expressed, “We are delighted to have Stakeboat Capital join us as a significant shareholder. We plan to use this capital to accelerate our growth, broaden our range of in-house manufactured products, expand our global footprint, and foray into new categories such as F&B solutions. We are honoured to collaborate with Stakeboat in our vision to take Economy to greater heights.”
Founded in 2015 and based in Mumbai, with manufacturing facilities in Chakan (Pune), Economy delivers custom vacuum and process solutions. Recently, the company expanded its offerings to include solutions for the beverage industry.
Srinivas Baratam, Managing Director at Stakeboat Capital, noted that the growing competitiveness of “Made in India” products will drive Indian and global companies to consider India-manufactured alternatives in the capital equipment sector. He added, “Indian capital equipment manufacturing provides a suitable combination of customized 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 enquiries and implement solutions quickly, often beating customer expectations.”
Economy aims to expand its domestic and export businesses in the next 4-5 years, with industries like waste management, pharmaceuticals, and chemicals driving most of its revenue. Several large companies in these sectors are planning significant capital expenditures soon, fueling growth in the capital equipment industry.
Additionally, exports to the resource-rich Middle East and Africa will grow, supported by major investments in these regions to boost industrial capabilities and add local value to resources.
Chandrasekar Kandasamy, Managing Partner, Stakeboat Capital, said, “We are thrilled to join Economy in its transformative journey. While continued growth of the Indian economy is expected to support the manufacturing industry in India, incentivization by the Indian government will further benefit the ecosystem. We believe in Economy’s vision and dedication to generating substantial value for its customers and are eagerly looking forward to the opportunities that lie ahead.”
With over 600 customers across 30+ countries, Economy continues to customize its solutions based on customer requirements, ensuring timely product deliveries and high customer satisfaction.
