EXFAQ Secures INR 24 Million Funding from Creative Newtech and Other Investors

EXFAQ Secures INR 24 Million Funding from Creative Newtech and Other Investors

EXFAQ Systems Private Limited is thrilled to announce the successful raising of approximately INR 24 million from the Promoters of Creative Newtech Ltd., renowned leaders in the Fast-Moving Consumer Technology (FMCT) and Fast-Moving Electrical Goods (FMEG) industries. Creative Newtech also stands as a pioneer in the Brand Licensing and Contract Manufacturing business model.

EXFAQ, headquartered in Mumbai, is a prominent electronics security company. It has forged long associations with esteemed real estate developers such as Runwal, Lodha, Rustomjee, Dosti, Prestige and others, securing numerous iconic properties. Notably, EXFAQ has introduced Baybot in India, its direct-to-consumer label specializing in security gadgets tailored for home and small office users. The company maintains a trajectory of rapid revenue expansion while demonstrating a resilient profitability profile.

The funding from the Promoters of Creative Newtech will empower the company to strengthen its dominant presence in the Real Estate Sector through the acquisition of new contracts. With a surge in demand within the Real Estate Sector, this investment will also facilitate EXFAQ in expanding its reach into sectors such as Government and Corporates, both experiencing substantial investments in security infrastructure projects.

Commenting on the transaction, Rachit Mundra, Founder, EXFAQ said, “We extend a warm welcome to Ketan Patel and others who are joining as our new investors in the company. This investment highlights our belief in the strength of our business model and the potential for future growth. As EXFAQ moves into the next stage of expansion and innovation, we anticipate leveraging Creative Newtech’s expertise, experience, and resources to facilitate our growth, particularly within the D2C segment.”

Ketan Patel, Chairman & Managing Director, Creative Newtech Ltd, said, “We are drawn to EXFAQ's promising growth trajectory and have full confidence in its ability to leverage its established foothold in the industry. Given the favourable landscape of the Real Estate and E-commerce sectors in India, we anticipate significant advantages for EXFAQ. We are thrilled to join forces with EXFAQ on this journey and eagerly await the opportunity to provide support throughout the upcoming phase of their development.”

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