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Vacuum and process solutions player Economy Process Solutions has secured Rs 100 crore in its Series A round from Stakeboat Capital Fund II.

The company will use the capital to accelerate growth, broaden its range of in-house manufactured products, expand global footprint, and venture into new categories such as F&B solutions, said Rajesh Ahuja, Founder and CEO, Economy Process Solutions.

“Indian capital equipment manufacturing provides a suitable combination of customised designs and sizes, at highly competitive prices. We believe that global companies can greatly benefit from Indian ingenuity, especially when it comes to certain sizes and volumes. Economy is differentiated by its ability to turnaround enquiries and implement solutions quickly, often beating customer expectations,” said Srinivas Baratam, Managing Director, Stakeboat Capital.

He added that the increased competitiveness of ‘Made in India’ products would urge many Indian and global companies to take a closer look at India-manufactured alternatives in the capital equipment industry.

Mumbai-based Economy Process Solutions expects to grow its domestic and export businesses over the next 4-5 years, driven by the growth in industries including waste management, pharma, and chemicals, which contribute to a majority of its revenue, said the company in a statement.

“While continued growth of the Indian economy is expected to support the manufacturing industry in India, incentivisation by the Indian government will further benefit the ecosystem,” said Chandrasekar Kandasamy, Managing Partner, Stakeboat Capital.

Economy Process Solutions, which was established in 2015, offers bespoke vacuum and process solutions. It recently ventured into the beverage industry. It as over 600 customers and has served in more than 30 countries.