India, June 24 -- Chennai-based composite materials startup Fabheads Automation has raised $10 Mn (about INR 86.7 Cr) in its Series A round led by Accel. The funding round also saw participation from Trifecta Capital.

In a statement, the startup said that the freshly raised capital will be deployed to scale up its manufacturing capacity, expand leadership team, and shore up engineering and research and development (R&D).

Fabheads currently has one manufacturing facility in Chennai. It now plans to establish a larger manufacturing facility in Bengaluru, which will commence operations in the next six months, a spokesperson of the startup told Inc42.

The new unit would primarily target the aerospace sector. The startup plans to focus on e...