CapGrid Solutions raises $5 Mn led by Anicut Capital

B2B manufacturing startup CapGrid Solutions has raised $5 million (around Rs 45 crore) in a funding round led by Anicut Growth Fund. The round also saw participation from existing investors Nexus Venture Partners and Axilor Ventures.

Earlier in January 2023, CapGrid had raised $7 million led by Nexus Venture Partners.

The round closed at a valuation of Rs 305 crore after the investment, according to an ET report.

The proceeds will be used for global expansion and investments in technology to improve supply chain and operational efficiencies.

Founded in 2020 by Tiwari and Himanshu Singh Raghuvanshi, CapGrid helps car part makers and suppliers by making it easier to find and buy the materials they need.

It helps OEMs procure precision parts and components from suppliers that it has tied up with. CapGrid currently operates around 11 fulfilment centres and has 50 strategic supply manufacturing partners.

The Gurugram-based startup claims to have recorded a revenue of around Rs 99 crore in the last fiscal year and expects to reach Rs 220 crore in FY25.