MiCoB, a disruptor in the construction industry that provides 3D Concrete Printing Solutions to military, residential, commercial, infrastructure, and architectural market segments in India has raised its first institutional capital from 3Lines Venture Capital.
Lalit Jalan, 3Lines India Chairman and the ex-CEO of Reliance Infrastructure, will join the MiCoB Board of Directors.
The construction industry has been stuck in its old ways of building homes, offices, bridges, and architectural artefacts from concrete for too long. There is a great need now to build at a greater speed, with higher quality, relocatable structures and at a competitive cost. "This is where MiCoB's uniquely innovative and software driven robotic arm comes into play. MiCoB's technology can print large scale structures with its capabilities of 3D slicing and 3D simulation in a shorter time frame than previously could be imagined by the builders," said Lalit Jalan.
"MiCoB's proven innovation of its printable material with fiber-reinforced mixtures has the opportunity to disrupt a market size of greater than $20B USD in India alone," he further added.
"MiCoB is very pleased to partner with 3Lines Venture Capital in its journey to build a hugely successful company in a fast growing construction industry in India where the need for speed in infrastructure development is insatiable," said Shashank Shekhar, co-Founder and the CEO of MiCoB. "This investment from 3Lines is a culmination of our mentoring relationship since we started MiCoB at IIT Gandhinagar during our graduate studies. We are very grateful for the trust 3Lines has reposed in MiCoB and its Founders," added Shashank.
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( With inputs from ANI )
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