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CapGrid Solutions raises $5 Mn led by Anicut Capital

EntrackrEntrackr · 10m 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: CapGrid to raise fresh funds from Anicut, Nexus and Axilor

EntrackrEntrackr · 11m ago
Exclusive: CapGrid to raise fresh funds from Anicut, Nexus and Axilor
Medial

B2B cloud manufacturing startup CapGrid is raising Rs 29.16 crore (approximately $3.5 million) in an extension of its Series A round led by Anicut Capital with the participation of Nexus Ventures and Axilor Technology Fund. The board at CapGrid has passed a special resolution to issue 2,452 Series A2 CCPS at an issue price of Rs 1,18,940 each to raise Rs 29.16 crore or $3.5 million, its regulatory filing accessed from the Registrar of Companies shows. Anicut Capital pumped in Rs 22.4 crore while Nexus Ventures and Axilor Technology Fund participated with Rs 3.3 crore and Rs 3.4 crore respectively. CapGrid will use these funds for expansion/growth and to fulfill the additional capital requirements, the filing stated. Caprid has raised over $10 million to date including its $7 million Series A led by Nexus Ventures in 2023. According to Entrackr’s estimates, the company has been valued at around Rs 285.5 crore (approximately $34 million) post-allotment. Founded in July 2020 by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi, CapGrid is an AI-powered platform that serves a spectrum of industries across the automotive industry, agricultural equipment, earthmoving equipment, aerospace, oil and gas, consumer durables, and electric vehicles (EVs). It claims to have over 30,000 manufacturers across 15 countries. Within just three years of operation, CapGrid has surpassed the Rs 100 crore revenue milestone. The company achieved a 2.3X year-on-year growth to Rs 101 crore in FY24 from Rs 44.3 crore in FY23. However, its bottom line reflected a loss of Rs 26.14 crore in the same period.

Magma closes Series A round at $8 Mn

EntrackrEntrackr · 12d ago
Magma closes Series A round at $8 Mn
Medial

Snippets Magma closes Series A round at $8 Mn Industrial B2B solutions provider Magma has closed its Series A round at $8 million, following an additional $3 million extension to its previously announced $5 million raise in April 2025. Gyan Vardhan 18 Dec 2025 14:01 IST Follow UsNew UpdateIndustrial B2B solutions provider Magma has closed its Series A round at $8 million, following an additional $3 million extension to its previously announced $5 million raise in April 2025. The $3 million fresh infusion includes $1.2 million from its existing investors Capria Ventures and Avinya Ventures, $1.3 million from the Gujarat Government’s VC arm, GVFL, and $0.5 million from AVNM Ventures.Magma has raised a total of $11.3 million to date, including $3.3 million in seed funding.The proceeds will be deployed to scale its operations across Gujarat, Maharashtra, Karnataka, Rajasthan, and Telangana; strengthen precision manufacturing networks, accelerate the growth of TerraMag, its advanced industrial materials brand, and introduce new factory-focused solutions, Magma said in a press release.Launched in 2022 by Neal Thakker, Magma builds an ‘Industrial Operations Stack’ for factories and contract manufacturers. With deep proximity to industrial clusters and a fundamentals-driven, profitability-first approach, the company works closely with mid-market manufacturers to modernise production, improve throughput, and bring transparency to supply and demand in India’s fragmented industrial ecosystem.Magma claims to have over 250 industrial customers across ceramics, industrial chemicals, paper, polymers, plastics and packaging sectors including Reliance, Adani and Arvind Group among others. With a footprint across 12 states in India, the startup serves a wide range of industries, including chemicals, packaging, polymers, paper, plastics, ceramics, and more. The Ahmedabad-based startup plans to double down on Magma Green, a green manufacturing and materials platform delivering waste-management and recycled-materials solutions across the paper, plastic, agro, and sawdust value chains. Capria Ventures is a global south-focused venture capital firm investing in applied AI innovations shaping the future of emerging markets like India, Southeast Asia, Africa, and Latin America. With over $200 million in AUM, the firm backs high-growth startups that embed AI to transform foundation sectors such as jobs, finance, healthcare, agriculture, and enterprise solutions.

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