Deep Tech Start-up Tvasta Secures Seed Funding Led by Foreign Investors
Tvasta Manufacturing Solutions, a deep tech start-up that specialises in construction 3D printing, has secured seed funding from foreign investors.
This fundraising round was led by Patrick Kelley, vice-president of Habitat for Humanity's Terwilliger Center for Innovation in Shelter. He said, “3D printing technology can help the construction market increase efficiency, while reducing costs and waste”.
Hestia Partners, Habitat for Humanity International, Capnetic Investments, and ADB Ventures are among the investors in the start-up. It was impossible to determine how much each investment contributed. However, Habitat for Humanity International funded $3 million ($411,000) through its Shelter Venture Fund to increase the production of inexpensive 3D printed homes in India.
Tvasta Manufacturing Solutions, which has offices in Chennai and Bengaluru, plans to use the funds to expand in-house research, develop diverse new product lines for various solutions, and scale up construction 3D printing technology across India. The funds will also be used to complete current orders and increase project execution capabilities for taking on major projects.
Adithya V.S. co-founder and CEO of Tvasta said, “currently, Tvasta is involved in the execution and delivering of multiple projects with total effective built area of about 1,00,000 sqft in the next 18-24 months”.
Mr. Adithya, C. Vidyashankar, chief operating officer, and Parivarthan Reddy, chief technology officer — the three IIT Madras Alumni founded the firm, which focused on utilising automation and robotics in 3D printing platforms for faster, more cost-effective, and more sustainable building than traditional methods.
Tvasta built India's first 3D printed house on the campus of IIT-M. The company was also instrumental in the building of India's first 3D printed doffing unit (in conjunction with Saint Gobain) for numerous hospitals in and around Chennai as part of the COVID-19 response initiatives.
This fundraising round was led by Patrick Kelley, vice-president of Habitat for Humanity's Terwilliger Center for Innovation in Shelter. He said, “3D printing technology can help the construction market increase efficiency, while reducing costs and waste”.
Hestia Partners, Habitat for Humanity International, Capnetic Investments, and ADB Ventures are among the investors in the start-up. It was impossible to determine how much each investment contributed. However, Habitat for Humanity International funded $3 million ($411,000) through its Shelter Venture Fund to increase the production of inexpensive 3D printed homes in India.
Tvasta Manufacturing Solutions, which has offices in Chennai and Bengaluru, plans to use the funds to expand in-house research, develop diverse new product lines for various solutions, and scale up construction 3D printing technology across India. The funds will also be used to complete current orders and increase project execution capabilities for taking on major projects.
Adithya V.S. co-founder and CEO of Tvasta said, “currently, Tvasta is involved in the execution and delivering of multiple projects with total effective built area of about 1,00,000 sqft in the next 18-24 months”.
Mr. Adithya, C. Vidyashankar, chief operating officer, and Parivarthan Reddy, chief technology officer — the three IIT Madras Alumni founded the firm, which focused on utilising automation and robotics in 3D printing platforms for faster, more cost-effective, and more sustainable building than traditional methods.
Tvasta built India's first 3D printed house on the campus of IIT-M. The company was also instrumental in the building of India's first 3D printed doffing unit (in conjunction with Saint Gobain) for numerous hospitals in and around Chennai as part of the COVID-19 response initiatives.
