Investment Thesis for Fabrik.Space

What is a Digital Twin?

This is a virtual digital double of a physical object, system or process which helps companies to focus their human experts’ time on more valuable areas. Digital Twins are built using Augmented Reality and Industrial IoT.


  • Digital Twin is a virtual digital double of a physical object, system or process which helps companies to focus their human experts’ time on more valuable areas.
  • The use of AI-driven technology in the form of a digital twin is helping companies worldwide reduce costs as they start to re-open after the COVID-19 lock-down, according to a report from Gartner.
  • Digital twins are being used in rail transport, the oil and gas industry, healthcare and industrial supply chain industries to drive down costs following the global pandemic.
  • “Internet of Things (IoT) implementations involving digital twins are proving to be helpful in reducing costs. Companies have been using these innovations to improve their situation awareness and automate their business responses to changing conditions,” comment Gartner.
  • Enterprises can initially use digital twins to save money simply by improving situational awareness. For example, digital twins can help companies to recognize equipment failures before they stall production, allowing repairs to be made early or at less cost all remotely using Augmented Reality.


  1. Part of the prestigious Maruti Accelerator and MG Startup Cohort. Part of cohort along with validated SAP ERP integration scenarios.
  2. Fabrik could become an interesting tech stack that appeals to industrial firms around their remote working scenarios such as:
    • Aging working population with no means to digitize operating know-how of equipment or processes
    • Remote equipment servicing scenarios especially in industries where outsourced service contracts are the norm for assets like Solar and Telecom.
    • Digitizing user manuals in complex industries where BOM’s stretch across electronics and mechanical parts e.g., Aerospace and Defense.


  1. About INR 45 Lacs in turnkey software revenue plus 13 Lacs in expected maintenance. 35 Lacs realized in the bank.
  2. Qualified pipeline in excess of INR 2 Crores and several pilots in the queue including Digital Work Instruction for MG Motors on a use case focused digitizing owner’s user manual.
  3. INR 1.5 Crores projected raise for 24 months survival rate at no revenue.


  1. The startup is revenue generating and breaking even at an operating level but is about 18 months away from achieving PMF based on market maturity and sales pipeline.
  2. LIDAR technology while available in consumer grade devices like Apple iPad Pro are not mature to scan objects in 3D and as such clients will require some services components using Autodesk and Adobe creative software’s.
  3. As an emerging technology only very, cutting-edge enterprises will adopt what Fabrik has built and hence could elongate sales cycles.
Fabrik is a part of the Modulor Thinknext portfolio.