Mumbai based Economy Process Solutions, a company specializing in vacuum and process solutions, that has raised Rs. 100 crore ($12 million) in a Series A funding round led by Stakeboat Capital Fund II.

The investment will be directed in the purpose of accelerating growth by expanding the range of inhouse categories of manufactured goods by increasing the company’s global footprint and entering new branches especially for food and manufacture.

It was founded in the year 2015 as Economic Press Solutions offering a wide portfolio of vaccum systems and process equipments which mould various industries. Their products are lineup which includes vacuum pumps, boosters, blowers, and accessories, alongside process equipment such as evaporators, dryers, extractors, reactors, and heat exchangers. Recently, the company has also ventured into the beverage sector, providing solutions for processing, bottling, and packaging.

Speaking to this Funding round, Rajesh Ahuja, Founder and Chief Executive Officer, Economy, “We are delighted to have Stakeboat Capital join us as a significant shareholder. We plan to use this capital to accelerate our growth, broaden our range of in-house manufactured products, expand our global footprint, and foray into new categories such as F&B solutions. We are honored to collaborate with Stakeboat in our vision to take Economy to greater heights”.

While production facilities are located Chakan, Pune, Economy aspire to improve its national export business over the next 4 to 5 years by operating in sectors like waste management, pharmaceuticals and chemicals. These industries are anticipating adding tremendous revenue substantial capital expenditures in the near future.

In serving over 600 customers across 30 countries, Economy Process Solutions is determined to equip their services to satisfy every customer needs and guarantee them for timely product deliveries for highest satisfaction.