Saurabh Batra, VP of Business and PnL, Prodo, said in a statement, “India’s manufacturing sector is expected to reach a $1 trillion dollar market size by 2030. We believe by creating visibility across the supply chain we can unlock a truly one-touch experience in manufacturing to serve clients in India and the global level.”
Prodo helps mid and large companies with their bulk manufacturing requirements.The company started its operations in August 2021.
Amit Goel, Director of Operations, Prodo
The Prodo cloud factory has over 500 manufacturing units as a part of its network. The company says that it is in process to build a globally connected distributed manufacturing ecosystem by standardising small and medium manufacturers.
Prodo aims to create supply chains that provide quick turnaround times for the clients and operational efficiency on each of its SKUs.
Amit Goel, Director of Operations, Prodo, said in a statement, “Our goal is to unlock $2 billion production capacity in the next 4 years. Today, most of the MSME manufacturers are operating on 40%-60% of their production capacity. Even when there is plenty of demand in the market; the gap in demand-supply mapping and working capital results in underutilisation.”
Saurabh Batra, VP of Business and PnL, Prodo
The company, which works on quarterly to yearly orders for mid and large clients, plans to clock in an order book of 400 crores by FY24. Prodo is backed by Titan Capital, Inflection Point Ventures, and LetsVenture. Meanwhile, Prodo had secured a $1 million seed round led by Inflection Point Ventures along with participation from Titan Capital, LetsVenture and Dholakia Ventures in November 2022. It was Prodo’s second round of funding. In November 2021, the company had raised its pre-seed round of $400,000 led by Titan Capital and LetsVenture.
