NEW DELHI, Jan 27: Thermoplastic road marking paints manufacturer Prismoline on Monday said it has raised funds to expand its product portfolio, and explore new market opportunities.
The funding round was led by Uniworth Finlease Limited (UFL), the company said in a statement.
“Prismoline has successfully secured an undisclosed amount of funding to strengthen its working capital, expand its product portfolio, and explore new market opportunities,” it said.
Rishabh Singhania, Founder and CEO of Prismoline, said this funding will help increase the company’s working capital and enable it to expand its product range, including the manufacturing of pavement markers, plastic paint, and water-based paint for airports.
“As part of its growth strategy, Prismoline is looking forward to expansion in international markets, with a focus on the UAE and the broader Middle East region,” he said.
Yash Maheshwari, Director of UFL, said with Prismoline, they are aiming to build a robust road asset bank to address safety and maintenance challenges.
The company added that the transaction was advised by existing investors Sumit Kochar and Shivam Gera, representing Dolce Vita Advisors (DVA), a legal advisory firm. (PTI)
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