In order to fund $100 million by November of this year, Nibav house Lifts, a house lift manufacturer with offices in Chennai, is in talks with international private equity (PE) investors. The money raised will be used largely for marketing, research, and development, as well as increasing production capacity and the company's global footprint.

The company currently produces about 350 units each month, and by the end of the year, it hopes to increase this number to reach about 700–800 units. Four cutting-edge production facilities, as well as two centres for research and development, are run by Nibav in Chennai.

Additionally, the company has an extensive global network of 44 outlets spread across countries including India, Malaysia, Australia, Thailand, Mexico, Canada, Kenya, Nigeria, Ghana, the UAE, South Africa, and Switzerland.

We are in talks with global private equity players to raise around $100 million by November this year. This will be mainly used for our new manufacturing unit, marketing, research and development, and overseas expansion,” explained Vimal R Babu, founder and CEO of Nibav Home Lifts.