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Prime Industries Ltd. has raised INR 11.86 crore in funding from Dr. Uday Narang, founder of Omega Seiki Mobility (OSM). The company will use the funds to expand its business and strengthen its presence in defence, nuclear and precision manufacturing.
The company is also planning to establish an R&D and incubation centre for its Special Product Division (SPD). The centre will focus on developing new products and engineering technologies.
Prime Industries team includes Deepak Handa, who has more than 25 years of experience in the automotive industry. He currently serves as Technical Director – Operations & Business Development at Omega Bright Steel. His experience spans manufacturing, business development and precision manufacturing.
Dr. Uday Narang has experience across electric mobility and advanced engineering. His company, Omega Seiki Mobility, is involved in electric three-wheelers and other commercial mobility solutions. He is also associated with OBSC Perfection Ltd., which operates in areas including CNC machining, casting, forging and stamping.
Prime Industries already has investments in businesses operating across defence, nuclear and advanced manufacturing. Its portfolio includes Kay Bouvet Engineering Ltd. and Linga Agri.
Following the fundraise and Dr. Narang’s entry, the company will focus on strengthening its existing businesses while developing new manufacturing and engineering capabilities.
