Affirma Capital leads a $40 million fundraising round for EPACK Durable.
Affirmative Capital announced a USD 40 million fundraising on behalf of EPACK Durable Private Limited (EDPL) today. In addition, the company obtained USD 24 million from ICICI Venture during its initial fundraising round the previous year.
The installed capacity of EDPL currently exceeds 2,4 million RAC units and 2 million SHA units. With the addition of fresh equity capital, EDPL will be able to further expand its installed capacity and focus on backward integration for several components. To accommodate the growing demand for RACs in India as well as the expectations of export markets, the company expects to increase its RAC capacity to 3.6 million units per year by the end of the next year.
One of the largest ODMs for RACs in India is EDPL. With cutting-edge technology like fixed speed and inverters, the company manufactures a wide range of room air conditioners, including Split and Window ACs. The company also manufactures SHAs, including water dispensers, mixer grinders, and induction cooktops. The company sells its products to well-known Indian and international businesses. By adding more capacity to existing and new sites and localising components, EDPL hopes to support the Atma Nirbhar Bharat and Make in India efforts of the Indian government. In Sri City, Andhra Pradesh, EDPL is currently building a greenfield manufacturing facility that should be operational by the end of the year.
Before the end of the current fiscal year, the company has also stated its desire to start up the brownfield expansion of its Bhiwadi, Rajasthan factory.
“We are quite satisfied with the formidable footprint we have developed in the RAC and SHA ODM arena,” stated Ajay Singhania, MD & CEO of EDPL. We can’t wait to better connect with both old and new consumers and provide them with a greater selection of goods. We are thrilled to work with Affirma Capital since they bring important expertise that will help us develop a much stronger company.
As a comment on this capital acquisition, BL Bothra, Chairman of EDPL, stated that “RAC penetration in India is among the lowest in the world at 7-8% of households. In order to produce room air conditioners and small home appliances, EDPL has been developing its production capabilities over the past 20 years. With all of the major brands, we have developed solid business partnerships. Over the next 4-5 years, the new capital from Affirma Capital will enable us strengthen our production and R&D capabilities and increase our market share.
About EPACK Durable Private Limited
Being a leading Original Equipment Manufacturer (OEM), EPACK Durable Private Limited, is a technology focused company with an intention of improving people’s lives and empowering customers with innovative solutions in OEM (Original Equipment Manufacturer) & ODM (Original Design Manufacturer) processes. Serving in the living appliances category, EPACK Durable has high class infrastructure and a dedicated workforce that ensures best performance and quality assurance for each of its offering. The company is a leader in original design and equipment manufacturing and has a clientele which includes segment leaders in home appliances and air conditioner branding.
When was EPACK Durable Private Limited founded?
EPACK Durable Private Limited was founded in 2019.
Who is the founder of EPACK Durable Private Limited?
The Key Managerial Personnel (KMP) at Epack Durable Private Limited India are Rajesh Kumar Mittal as Cfo(Kmp) and Ajay Dd Singhania as Ceo(Kmp). Bajrang Bothra, Nikhil Mohta, Sanjay Singhania and 4 other members are presently associated as directors.
Is EPACK Durable Private Limited hiring?
EPACK Durable Private Limited is hiring for multiple positions like Sap Finance Control Consultant.
What is the team size of EPACK Durable Private Limited?
As per the popular social media site LinkedIn, EPACK Durable Private Limited has 133 employees.
Where is the head office of EPACK Durable Private Limited?
Epack Durable Private Limited is a 3 years 5 months old Private Company incorporated on 20 Apr 2019. Its registered office is in Gautam Buddha Nagar, Uttar Pradesh, india.
How much is the revenue of EPACK Durable Private Limited?
The company aims to increase its capacity to 2.6 million by the end of 2022, said Singhania. The company ended FY21 with a turnover of ₹760 crore and is aiming to hit a revenue of ₹1,100 crore in FY22, said B.L. Bothra, chairman of EPACK Durable.
EPACK Durable Private Limited seems to be an intriguing startup with inspiring development on appliances, electrical, and electronics manufacturing platform. All the best to the whole group. This will give them an enormous achievement in the future.Shishir Gupta, Founder and CEO, StartupLanes
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