Tech-enabled B2B Startup 'CapGrid' nets $3.5 million in Series A
B2B cloud manufacturing startup CapGrid has secured Rs. 29.16 crore (around $3.5 million) in an extended Series A funding round led by Anicut Capital, with participation from Nexus Ventures and Axilor Technology Fund.
As per regulatory filings accessed from the Registrar of Companies, the board approved a resolution to issue 2,452 Series A2 CCPS at Rs. 1,18,940 each to raise the funds. Anicut Capital invested Rs. 22.4 crore, while Nexus Ventures and Axilor Technology Fund contributed Rs. 3.3 crore and Rs. 3.4 crore, respectively. The funds will be utilized for expansion, growth, and meeting additional capital requirements.
To date, CapGrid has raised over $10 million, including a $7 million Series A round led by Nexus Ventures in 2023. Following this funding round, the company is valued at approximately Rs. 285.5 crore (around $34 million).
Founded in July 2020 by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi, CapGrid is an AI-powered platform serving a range of industries, including automotive, agricultural equipment, aerospace, oil and gas, consumer durables, and electric vehicles. The platform boasts a network of over 30,000 manufacturers across 15 countries.
In just three years, CapGrid has surpassed Rs. 100 crore in revenue, achieving 2.3X year-on-year growth from Rs. 44.3 crore in FY23 to Rs. 101 crore in FY24. However, the company posted a loss of Rs. 26.14 crore during the same period.
CapGrid aims to leverage its AI-driven platform to further scale its operations and support its continued growth across multiple industries globally.
As per regulatory filings accessed from the Registrar of Companies, the board approved a resolution to issue 2,452 Series A2 CCPS at Rs. 1,18,940 each to raise the funds. Anicut Capital invested Rs. 22.4 crore, while Nexus Ventures and Axilor Technology Fund contributed Rs. 3.3 crore and Rs. 3.4 crore, respectively. The funds will be utilized for expansion, growth, and meeting additional capital requirements.
To date, CapGrid has raised over $10 million, including a $7 million Series A round led by Nexus Ventures in 2023. Following this funding round, the company is valued at approximately Rs. 285.5 crore (around $34 million).
Founded in July 2020 by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi, CapGrid is an AI-powered platform serving a range of industries, including automotive, agricultural equipment, aerospace, oil and gas, consumer durables, and electric vehicles. The platform boasts a network of over 30,000 manufacturers across 15 countries.
In just three years, CapGrid has surpassed Rs. 100 crore in revenue, achieving 2.3X year-on-year growth from Rs. 44.3 crore in FY23 to Rs. 101 crore in FY24. However, the company posted a loss of Rs. 26.14 crore during the same period.
CapGrid aims to leverage its AI-driven platform to further scale its operations and support its continued growth across multiple industries globally.
.jpg "Innovating Legal Solutions to Safeguard your Business")
