Ahmedabad-headquartered M.R. Organisation Ltd, a manufacturer and exporter of kits related to compressed air market, has raised an undisclosed amount in an angel funding from Sarthi Angels Venture Foundation (SAVF).
This is SAVF’s second investment after it invested an undisclosed amount in Delhi-based Learning Edge Academy of Professionals Pvt Ltd (LEAP), an e-Learning, educational technology platform.
Founded in 1984 by Mayur Kamdar, M.R. Organisation manufactures and exports kits and parts of over 28 different global brands of rotary screw compressors, high and low pressure reciprocating piston compressors, vacuum pumps, thermostat valve and elements, consumables, electronic parts and instruments, lubricants, etc.
M.R. Organisation sells its products across 16 states in India and 68 countries. It has a manufacturing and warehousing facility for major parts and kits.
Mayur Kamdar told VCCircle, “The funds raised from Sarthi will be utilised for our global expansion. We are already exporting our products in over 68 countries and the funds will help the company for its brand building process.”
M.R. Organisation has sales offices in the UK and the US, too. The firm employs over 60 people in its India office.
SAVF, which was launched in August 2013 by Sarthi Group, a financial services company, comprises high net-worth angels among others and invests in startups operating in sectors like e-commerce, IT, agriculture and food processing, consumer, clean tech, healthcare and media.
The platform can invest at any stage of a startup lifecycle (even in ideation stage companies) and the amount invested can go up to $2 million.
(Edited by Joby Puthuparampil Johnson)