Company Name : Prothom Industries
Funding Amount : $ 2 million
Investor(s) Oliphans Capital . .
Funding Round : Not Disclosed
Oliphans Capital has invested $2 million in Prothom Industries, which manufactures toys for global giant Hasbro, making a case for the Prime Minister’s Make In India Initiative.
Prothom Industries, founded in 2014 by Arun Chandrachud, has a state of the art manufacturing facility in Pune. The company was chosen by Hasbro because it met its stringent requirements in terms of expertise and quality while being more cost effective.
Anish Jhaveri from Oliphans Capital said that they were ‘very bullish on the Prime Minister’s campaign of Make In India’ and were looking to invest in a manufacturing opportunity in an area ‘not sought after by venture capitalists’.
Prothom believes that with its expertise in plastics, mechatronics, and high volume assembly it will be able to garner a large share in India’s growing outsourced toy manufacturing industry. It also plans to use these funds to increase its customer base by 2017.