B2B Manufacturing Startup CapGrid Solutions Secures $5 Million Investment
CapGrid Solutions, a B2B manufacturing startup, has successfully secured $5 million (approximately Rs 45 crore) in a funding round spearheaded by Anicut Growth Fund. This funding round also garnered interest from existing investors such as Nexus Venture Partners and Axilor Ventures.
In January 2023, CapGrid had raised $7 million, primarily led by Nexus Venture Partners. Following this recent investment, CapGrid is reported to have closed the funding round at a valuation of Rs 305 crore, as stated in an ET report.
The capital raised will be allocated towards global expansion initiatives and further investments in technology aimed at enhancing supply chain and operational efficiencies.
Established in 2020 by Tiwari and Himanshu Singh Raghuvanshi, CapGrid facilitates car part manufacturers and suppliers by streamlining their procurement of necessary materials. The company supports OEMs in sourcing precision parts and components from its network of partnered suppliers. Currently, CapGrid operates around 11 fulfilment centres and collaborates with 50 strategic supply manufacturing partners.
Based in Gurugram, the startup claims to have generated a revenue of approximately Rs 99 crore in the previous fiscal year and anticipates reaching Rs 220 crore by FY25.
