New Delhi, May 29 (IANS): Robotics and automation solutions provider DiFACTO on Wednesday said it secured Rs 40 crore from private equity firm Stakeboat Capital in its Series A round.

The funds will be used to fuel the company's growth and strengthen its market position.

"India’s automotive industry is one of the many areas that leverage robotic automation. It is expected to experience a CAGR of 12.7 per cent, reaching $512 billion by 2026. It is also poised to contribute 12 per cent of our nation’s GDP," Ajay Gopalswamy, Founder and CEO of DiFACTO, said in a statement.

"With our established market dominance and track record, we see a strong growth trajectory here," he added.

With three factories in Bengaluru and branches in Pune and Gurugram, DiFACTO operates globally, including a wholly-owned subsidiary in Troy, Michigan, US.

Presently, the company operates across four key segments -- welding systems, material handling systems, foundry and machine tending systems, and fluid dispensing systems.

"DiFACTO’s innovative approach and unwavering commitment to excellence perfectly align with Stakeboat Capital's vision for driving growth and transformation in the robotic automation space," said Chandrasekar Kandasamy, Managing Partner of Stakeboat Capital.

DiFACTO has delivered more than 1,000 projects for 300 customers across 15 countries.

Srinivas Baratam, Managing Director, Stakeboat Capital, believes that initiatives such as Make in India and increased focus on manufactured exports will lead to a shortage of skilled manpower available to the sector.