Chennai

Deep tech startup Tvasta raises seed funding from international investors

Deep tech startup Tvasta Manufacturing Solutions, which specializes in construction 3D printing, has raised a seed round funding from international investors.

The startup said it had raised funding from Hestia Partners, Habitat for Humanity International, Capnetic Investments and ADB Ventures. Details on how much each of investors funded could not be ascertained. But Habitat for Humanity International, through its Shelter Venture Fund, invested ₹3 crore ($411,000) to increase production of affordable 3D printed homes in India.

Tvasta Manufacturing Solutions, currently based out of Chennai and Bengaluru, will utilize the funding to boost in-house research, launch multiple new product lines for different solutions and scale-up construction 3D printing technology across India. The funding will also help execute current orders and expand project execution capabilities for undertaking larger projects.

“3D printing technology can help the construction market increase efficiency, while reducing costs and waste,” said Patrick Kelley, vice-president, Habitat for Humanity’s Terwilliger Center for Innovation in Shelter, which has led this funding round.

“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,” the firm’s co-founder and CEO Adithya V.S. said.

Founded by three IIT Madras Alumni — Mr. Adithya, C. Vidyashankar , chief operating officer, and Parivarthan Reddy, chief technology officer — the startup developed a technology focussing on leveraging automation and robotics in 3D printing platforms for faster, economical and sustainable construction compared to conventional technologies.

India’s first 3D printed house was constructed by Tvasta in the IIT-M campus. As a part of the COVID-19 response initiatives, the company was also instrumental in the erection of India’s first 3D printed doffing unit (in collaboration with Saint Gobain), for multiple hospitals, in and around Chennai.


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Printable version | Nov 27, 2021 5:49:11 AM | https://www.thehindu.com/news/cities/chennai/deep-tech-startup-tvasta-raises-seed-funding-from-international-investors/article37118391.ece

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