ThinkMetal, a deeptech startup specializing in metal 3D printing, has raised $800,000 in a pre-Series A funding round. The investment was led by YourNest Venture Capital through the YourNest-SanchiConnect Velocity Program 2024, with additional participation from Concept Communications and Sanchi Connect.
The company had previously secured $300,000 in a seed round led by 100X.VC, with contributions from Concept Communications, SAT Industries, and investors including KRS Jamwal and Uday Sodhi.
ThinkMetal stated in a press release that the newly raised funds will be used to finalize production readiness, launch its first-generation product, enhance software capabilities, refine operational processes, and expand its team in areas such as sales, operations, design, and software development.
Founded in 2021 by Sabyasachi Ghosh and Arushi Sharma, the Chennai-based startup has developed a compact metal 3D printer, SistemT1, which uses patented materials and processes. According to the company, its technology enables faster production of metal parts and reduces operational costs.
The company’s product is designed for applications such as moulds, dies, jigs, and fixtures, catering to small and medium-scale manufacturers. Its customers include Ants Ceramics, ZeQube Technologies, and Hosur CNC. ThinkMetal’s market approach involves paid pilots, experience centers, and on-demand services.
Market research estimates the tooling industry in India to be valued at $5 billion, with a projected compound annual growth rate (CAGR) of 9%. The global metal 3D printing sector includes companies such as Markforged, Desktop Metal, and EOS.