ThinkMetal, a deeptech startup, raised $800,000 in a pre-Series A funding round to enhance its metal 3D printing technology, targeting the growing Indian tooling market.

Target Information

Deeptech startup ThinkMetal has successfully secured $800,000 (approximately Rs 6.7 crore) in a pre-Series A funding round, led by YourNest Venture Capital as part of the YourNest-SanchiConnect Velocity Program 2024. This round also saw participation from Concept Communications and Sanchi Connect. Prior to this funding round, ThinkMetal raised $300,000 in a seed round led by 100X.VC with contributions from Concept Communications, SAT Industries, and individual investors including KRS Jamwal and Uday Sodhi.

Founded in 2021 by Sabyasachi Ghosh and Arushi Sharma, ThinkMetal specializes in enabling manufacturers to produce metal parts with significant efficiency gains. The company’s flagship product, the SistemT1, is a compact metal 3D printer that promises production speeds that are ten times faster at half the cost compared to traditional methods. Utilizing patented materials and processes, ThinkMetal addresses the challenges faced in conventional tooling and low-volume production environments, allowing manufacturers to create essential components such as moulds, dies, jigs, and fixtures in just hours.

Industry Overview

The tooling market in India is predicted to reach $5 billion, expanding at a compound annual growth rate (CAGR) of 9%. This promising growth trajectory highlights the increasing demand for innovative solutions