Mefron Technologies Raises Maiden Private Equity Round from Motilal Oswal Principal Investments and India SME Investments

Mefron Technologies, an electronics design and manufacturing company from Ahmedabad has raised its maiden private equity round for an undisclosed amount from Motilal Oswal Principal Investments and India SME Investments. The company which was founded in 2022 provides end to end manufacturing services including PCB Assembly, tooling, plastic injection moulding, box building, cable and wire harnesses, to various OEM's with quality certifications such as ISO9001, ISO13485 for Medical Electronics, IATF16469 for Automobile industries. 

"The company aims to leverage its high level of automation using principles of Industry 5.0 and proprietary software for various operations to achieve higher yields and timely delivery, two key problems plaguing Indian EMS companies." said the company's founder and Director, Hiren Bhandari.

Both Motilal Oswal and India SME has a strong track record in niche manufacturing investments. Motilal Oswal invested in Dixon Electronics and VVDN, the amongst top 5 EMS player while India SME has invested in Simpolo Ceramics, SBL Energy, and Venus Pipes & Tubes. "The confidence and trust shown by such notable investors underlies Mefron's capabilities and potential to become a leader in Indian electronics manufacturing," said founder and Director, Bhavyen Bhandari.

"While the tailwinds are strong for entire electronics manufacturing through various government policies, local ecosystem development, and huge market opportunity, Mefron with its strong and proven design capabilities differentiates from many players in this segment as without ODM capability, companies face margin pressure." said, Mitin Jain, founder and Managing Director India SME Investments. 

The company counts leading OEMs within Grooming and Personal Care, Mobile Accessories, Access Control, Biometrics Devices and EV as its customers and its products are exported to over 30 countries. The company also has subsidiaries in China and Singapore for managing its supply chain. The company plans to invest the capital in expanding existing capacity, augmenting its advanced processes for automation and business development activities to further penetrate European and North American markets.