Funding · Professional & Local Services
Digital Striker raises $1 million seed round
By Startup Enthusiast ·
- Date
- Company
- Digital Striker
- What it does
- Optical fiber tools and equipment
- Kind
- Funding
- Amount
- $1 million
- Stage
- seed
- Founded
- 2021
What they do
Digital Striker imports and distributes optical fiber tools like strippers and splicing machines
What happened
It raised $1 million (about Rs 8.5 crore) in seed funding led by USA-based Foxhog Ventures
Why it matters
India's optical fiber industry is 100% dependent on China for tools, and only 35% of mobile towers are fiber-connected
The details
- Digital Striker raised $1 million (about Rs 8.5 crore) in a seed round.
- The round was led by Foxhog Ventures, a USA-based venture capital firm.
- The company plans to use Rs 5-6 crore to set up a manufacturing plant, hire staff, and open offices in metro cities.
- Another Rs 4-5 crore will go towards import operations.
- Digital Striker aims to start manufacturing 5-7 core products locally, becoming the first such unit in India.
The bigger picture
- India's optical fiber industry is 100% dependent on China for tools.
- Only 35% of mobile towers in India are connected by optical fiber.
- Digital Striker was bootstrapped for 40 months before this round.
- The company has a turnover of Rs 8.85 crore and a network of 450+ resellers.
About the business
- Digital Striker is an optical fiber tools and equipment company founded in 2021.
- It imports and distributes fiber strippers, cleavers, VFLs, power meters, and splicing machines.
- The company has a network of 450+ resellers and end-users.
- It has been bootstrapped for 40 months and reported a turnover of Rs 8.85 crore.
- Digital Striker aims to achieve a revenue target of Rs 100 crore within 4-5 years.
What happens next
- Set up a manufacturing plant for 5-7 core products.
- Hire staff and open offices in metro cities.
- Expand import operations with Rs 4-5 crore.
- Achieve Rs 100 crore revenue within 4-5 years.
The deal
- Type
- seed
Investors
- Foxhog Ventures (lead) — USA-based venture capital firm led by CEO Tarun Poddar.
Founders
- Priyanka, co-founder
About Digital Striker
- Product
- Optical fibre tools and equipment such as fibre strippers, cleavers, visual fault locators, power meters, and splicing machines.
- Customers
- Telecom companies, network installers, and resellers across India.
- How it makes money
- Imports and distributes optical fibre tools through a reseller network, with plans to manufacture locally.
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