Ben & Gaws Private Limited, the company behind the innovative manufacturing tech startup Fabrication Bazar, has successfully raised $3 million in a pre-Series A funding round. This round was led by Physis Capital, with additional participation from Japan-based Venture Capital firm ICMG and existing investor Inflection Point Ventures, a prominent Gurugram-based angel investment firm.
What is Fabrication Bazar?
Founded by Dwaipayan Dutta, Fabrication Bazar is an asset-light, tech-enabled manufacturing platform specializing in industrial steel products. Serving over 400 clients across various sectors, the startup collaborates with more than 330 fabrication vendors throughout India to enhance production efficiency and reduce delivery times. The platform achieves this by breaking down products into multiple components and processing them simultaneously, a proprietary method that sets Fabrication Bazar apart in the industry.
Enhancing Efficiency and Expanding Reach
Fabrication Bazar is on a mission to digitize the supply chain within the steel fabrication industry. The platform centralizes the management of procurement, quality control, and logistics, optimizing the underutilized capacity of over 1.5 million MSME fabrication vendors across India. With a growing presence in Southeast Asia, particularly in Vietnam, the startup is also expanding its vendor network to meet global quality standards while offering reduced delivery times and costs compared to traditional manufacturers.
Purpose of the Fundraising
The newly raised $3 million will be allocated towards enhancing Fabrication Bazar’s tech platform, expanding its geographic presence beyond India—especially in GCC and Southeast Asian markets—and building a robust leadership team. Part of the funds will also be used to support the startup’s continued growth.
“The Pre-Series A round is a testament to our business model and our approach to addressing the challenges within India’s steel fabrication industry through an asset-light strategy,” said Dutta. “Our tech-enabled platform empowers thousands of MSME steel fabricators across India by improving their capacity utilization, delivering quality products to blue-chip MNC clients, and providing them access to capital.”
Dutta further emphasized that the funds will help take Fabrication Bazar to the next level, given the vast growth potential within the steel fabrication industry both in India and globally.
Fabrication Bazar’s Market Presence
Over the past 12 months, Fabrication Bazar has seen significant growth in its operations, including an expansion of its vendor network and client base in India. The startup has also been recognized as a qualified vendor by several large companies in the GCC and is establishing a vendor base in Vietnam to cater to demand from the SEA region. With increasing interest from both domestic and international clients, Fabrication Bazar’s order book has tripled over the last year. Notably, the company has been operationally EBITDA positive since its inception.
The Steel Fabrication Industry Landscape
India is the world’s second-largest producer and consumer of steel, with the structural steel market projected to exceed $20 billion by 2030. This market spans multiple sectors, including construction, energy, FMCG, telecom, pharma, and petrochemicals. However, the current steel fabrication market is highly fragmented, with over 90% of fabricators being MSMEs that lack the technology, financing, and access to large clients, leading to significant underutilization of fabrication capacity.
Fabrication Bazar addresses this gap by connecting large corporate clients with underutilized fabricators across India through its tech-driven platform, ultimately reducing lead times and costs while increasing efficiency.
