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Anicut Capital leads Rs 60 Cr round in BlueBinaries

EntrackrEntrackr · 11m ago
Anicut Capital leads Rs 60 Cr round in BlueBinaries
Medial

Engineering and technology services company BlueBinaries has raised Rs 60 crore ($7.2 million) in a mix of debt and equity round led by Anicut Capital. The proceeds will be deployed towards building its existing customer base of OEM’s and tier I automotive suppliers across geographies, enhancing SDV and digital capabilities, BlueBinaries said in a press release. Co-founded in 2017 by Srinivas Aravapalli and Kishore LM, BlueBinaries focuses on accelerating the development of software defined vehicles (SDVs) with E/E Architecture design & development services and Digital technologies like cloud, Devops, AI/ML, cyber security and IOT solutions for its customers. According to market research, the automotive electronics and software market is expected to grow to over $80B by the end of 2030. According to the Chennai-based company, it serves a diverse customer base in Europe, UK, USA and APAC. The platform aims to deliver cutting-edge technological solutions and services for the mobility industry. As per media reports, Anicut Capital is in the process of raising its third credit fund with a target corpus of Rs 1,300-1,500 crore. The firm is also on the verge of closing its first debt fund under the GIFT City structure.

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Anicut raises $11 Mn via GIFT City Structure for Private Credit Fund 3

EntrackrEntrackr · 9m ago
Anicut raises $11 Mn via GIFT City Structure for Private Credit Fund 3
Medial

Alternative investment firm Anicut Capital has announced the receipt of $11 million in dollar-denominated investments via GIFT City Structure in its Private Credit Fund 3. In September last year, Anicut Capital secured an investment of Rs 50 crore from the Small Industries Development Bank of India (SIDBI) for the Anicut Equity Fund. Within the first year of operations, the fund has already invested in six companies including Earth Rhythm, Neemans, Wheelocity, The Ayurveda Experience, Blue Tokai Coffee and XYXX. The investment structure aims at attracting dollar-denominated investments into India from a diverse group of institutional investors, family offices, and high-net-worth individuals (HNIs) from key global markets including the US, UK, Europe, and the Middle East. The funds are raised in the International Financial Services Centres Authority (IFSC), a statutory authority established by the Government of India to facilitate international investments. The funds received via GIFT City Structure feed into the overall corpus of Rs 1,500 crore that Anicut Capital is currently raising for its third private credit fund. In private credit, Anicut claims to have deployed Rs 3,200 crore to date across mid-sized enterprises since inception.

CapGrid Solutions raises $5 Mn led by Anicut Capital

EntrackrEntrackr · 5m ago
CapGrid Solutions raises $5 Mn led by Anicut Capital
Medial

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.

Exclusive: Eggoz to raise Rs 125 Cr led by Gaja Capital

EntrackrEntrackr · 20d ago
Exclusive: Eggoz to raise Rs 125 Cr led by Gaja Capital
Medial

Eggoz, a consumer brand for eggs, is raising Rs 125 crore, approximately ($14.7 million) in its Series C round led by Gaja Capital with the participation of existing investors IvyCap Ventures and Redbright Partners. The board at Eggoz has passed a special resolution to issue 1 equity and 15,334 Series C preference shares at an issue price of Rs 81,511 each to raise Rs 125 crore or $14.7 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Gaja Capital will spearhead the round with Rs 100 crore, while IvyCap Ventures and Redbright Partners will inject Rs 20.95 crore and Rs 4.05 crore, respectively. According to Entrackr’s estimates, the company will be valued at around Rs 480-500 crore or $55-58 million post-money. This marks a 60% increase in the valuation when compared to its last round. Founded in 2017 in Bihar by Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz operates an asset-light, farmer-led model that ensures fresh eggs reach retailers within 24 hours. The brand has scaled its presence across Delhi-NCR, Bengaluru, Kolkata, Jaipur, Lucknow, and several non-metro cities. In a bid to diversify, Eggoz has also forayed into ready-to-cook offerings such as momos, burger patties, nuggets, and more. Eggoz has raised over $27 million in total funding so far. This includes an $8.8 million Series B round led by IvyCap Ventures. Before this, the company had secured $3.5 million in its Series A round and Rs 3.7 crore during its seed stage. The company has yet to file its FY25 numbers. Eggoz has recorded a 33.6% year-on-year increase in its revenue to Rs 73.1 crore in FY24, while the losses of the firm reduced by 24% to Rs 25 crore in the same period.

Filter Capital makes final close of Fund I Rs 800 Cr

EntrackrEntrackr · 1y ago
Filter Capital makes final close of Fund I Rs 800 Cr
Medial

Filter Capital, a technology-focused investment firm, has made the final close of its first fund at Rs 800 crore (approximately $96 million). The Mumbai-based fund received around 60% of the capital commitments from domestic limited partners (LPs), with the rest coming from international investors. According to an ET report, the LPs in the round included institutional investors and family offices such as HDFC Fund of Funds, Small Industries Development Bank of India, DSP family office, Amansa Capital founder Akash Prakash and Dream Sports cofounder Harsh Jain. Launched by Nithin Nayar and Sumit Sinha in 2018, Filter Capital will invest in Series B and C rounds in the range of $15-20 million. Filter Capital India Fund I has so far invested about Rs 225 crore from its corpus in four entities — enterprise loyalty software provider Capillary Technologies, bus mobility platform Chalo Mobility, e-commerce logistics services firm LoadShare Networks and healthcare enterprise software company THB. Recently, its portfolio firm Capillary Technologies extended its Series D round to $140 million, raising $95 million in secondary transactions to provide exits to existing investors and employees.

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