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CapGrid Solutions raises $5 Mn led by Anicut Capital
Entrackr
·
5m ago
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.
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CapGrid, Anscer Robotics get funding; Paras Defence bets on Logic Fruit
VCCircle
·
5m ago
Medial
CapGrid Solutions, a company that aids manufacturers in sourcing precision components, raised $5 million in an extended Series A round led by Anicut Capital. The funds will support international growth and AI supply chain improvements. Anscer Robotics secured $2 million from Info Edge Ventures for its autonomous mobile robots. Additionally, Paras Defence invested Rs 10 crore in Logic Fruit Technologies for an 8% stake to foster next-gen radar and surveillance systems development.
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B2B manufacturing startup CapGrid Solutions bags $5 million in new round
Economic Times
·
5m ago
Medial
CapGrid Solutions, a B2B manufacturing startup, secured $5 million in funding led by Anicut Growth Fund, with participation from Nexus Venture Partners and Axilor Ventures. The Gurugram-based company, serving OEMs and tier-1 suppliers in the automotive sector, will use the funds for global expansion, particularly in the US and Germany. CapGrid aims for its global business to contribute 30% to overall revenue in 12 months. The company also expanded into the consumer durables sector, greatly diversifying risks.
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Spacetech startup InspeCity raises $5.6 Mn in Seed round
Entrackr
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3m ago
Medial
Spacetech startup InspeCity has raised $5.6 million in its Seed funding round led by Ashish Kacholia, with participation from Speciale Invest, Shastra VC, Antler India, DeVC, MGF-Kavachh, and Anicut Capital. Founded by Arindrajit Chowdhury from IIT Bombay, InspeCity is working on in-space servicing, assembly, and manufacturing solutions. The funds will support R&D and scale the life-extension platform, VEDA, set for a demo mission in 2027. The startup aims to provide cost-effective solutions and has an MoU with Japan’s Orbital Lasers for space debris removal. InspeCity targets the $14 billion ISAM market.
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Exclusive: CapGrid to raise fresh funds from Anicut, Nexus and Axilor
Entrackr
·
6m ago
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.
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Solar startup Ellipsol raises Rs 2.5Cr led by Capital A, others
IndianStartupNews
·
1y ago
Medial
Indian solar startup Ellipsol has secured approximately $300,000 in seed funding led by Capital A, with participation from Grand Anicut Fund and individual investors. The company will use the capital to advance its prototype to production level and support initial pilot projects. Ellipsol has developed patented technology that doubles the energy yield of conventional photovoltaic panels by precisely controlling solar radiation. The startup plans to provide cost-effective green energy solutions and aims to expand its capacities while raising more capital.
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Anicut raises $11 Mn via GIFT City Structure for Private Credit Fund 3
Entrackr
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9m ago
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.
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Drone startup Aereo raises $15 Mn in Series B
Entrackr
·
1y ago
Medial
Commercial drone solutions startup Aereo has secured $15 million in a Series B funding round led by 360 ONE Asset. The round also witnessed participation from its existing investors StartupXseed Ventures and Navam Capital. The company had previously raised $6.44 million at post money valuation of $25.5 million from GrowX Ventures, Startupxseed Ventures, Anicut Capital and others. The fresh funds will be used to expand its aerial intelligence solutions for capital asset management, Aereo said in a press release. Co-founded in 2013 by Vipul Singh and Suhas Banshiwala, Aereo serves in the B2B space in the high tech, aerospace, maritime and defense tech market segments. According to Aereo, it has been a partner for Coal India Limited’s Digicoal initiative, and provides critical business intelligence for some of the world’s largest coal mines for improving productivity. It has also been collaborating with Tata Steel since 2019, aiding the digitalisation of over 27 critical mines and stockyards. The Bengaluru-based company claims that it has mapped over 45,000 villages under the SVAMITVA scheme and covered more than 50,000 sq. km of land area for the Digital India Land Record Modernization Program (DILRMP). The other notable players in this space are Skylark Drones, IdeaForge, Garuda Aerospace, DroneAcharya Aerial, Dhaksha Unmanned Systems and others.
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Astrogate Labs raises $1.3 Mn led by Piper Serica
Entrackr
·
5m ago
Medial
Astrogate Labs raises $1.3 Mn led by Piper Serica Spacetech startup Astrogate Labs has secured $1.3 million in its pre-Series funding led by Piper Serica Angel Fund. The proceeds will be used to accelerate further the development of its laser communication terminals for space and additional use cases in terrestrial and airborne applications, scale operations, and strengthen partnerships with space agencies and defense organizations. Founded by Nitish Singh, Yogeshwaran J, and Subhajit Chakraborty, Astrogate Labs provides technology to improve data downlink for small satellite constellations, helping them transmit data more efficiently to the ground. With over 25,000 small satellites expected to be in orbit by 2030, current radio frequency systems face severe bandwidth limitations and spectrum congestion. Astrogate's laser communication solutions claim to provide a scalable alternative for high-speed up to 10 Gbps, secure data transmission. Astrogate Labs has also received recognition for its technology innovations including DRDO Dare to Dream 4.0 and graduated from the Seraphim Space Accelerator APAC Program in 2023. The Bengaluru-based company has been backed by Speciale Invest, SatSure and Anicut Capital, who provided early funding to support the development of its innovative technology.
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Fintech startup QuiD Cash raises $4.5 Mn in pre-Series A round
Entrackr
·
7m ago
Medial
Supply chain fintech startup QuiD Cash has raised $4.5 million (around Rs 38.23 crore) in its pre-Series A round from a host of angel investors, including Piyush Jain and existing backer MINTCAP. Earlier in 2024, QuiD had raised Rs 5 crore in its pre-seed funding led by Mint Cap Enterprises and Stone Park Capital. The proceeds will be used for technology enhancement and business growth. The firm has also launched QuiD Capital, an NBFC designed to facilitate anchor-led invoice financing. Founded by Subhash Gupta and Vikram AG, QuiD Cash provides tech-based financial solutions through its B2B supply chain platform. It serves around 8,000 users and partners with over 20 major companies in the FMCG, automotive, pharmaceuticals, and agriculture industries. These companies handle transactions worth Rs 50 crore to RS 250 crore every month. The firm operates with a team of 40 employees and plans to expand to 50 people next year. It aims to onboard 5 lakh retailers in the next two years.
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Economy Process Solutions raises $12 Mn in Series A
Entrackr
·
10m ago
Medial
Economy Process Solutions, a company specializing in vacuum and process solutions, has successfully raised Rs 100 crore ($12 million) in a Series A funding round led by Stakeboat Capital Fund II. The investment will be directed towards accelerating growth, expanding the range of in-house manufactured products, increasing the company’s global footprint, and entering new categories, particularly in food and beverage solutions. Founded in 2015, Economy Process Solutions offers a diverse portfolio of vacuum systems and process equipment tailored for various industries. Their product lineup includes vacuum pumps, boosters, blowers, and accessories, alongside process equipment such as evaporators, dryers, extractors, reactors, and heat exchangers. Recently, the company has also ventured into the beverage sector, providing solutions for processing, bottling, and packaging. With manufacturing facilities located in Chakan, Pune, Economy aims to enhance its domestic and export business over the next 4-5 years, driven by growth in sectors like waste management, pharmaceuticals, and chemicals. These industries are expected to contribute significantly to their revenue, especially as many major players plan substantial capital expenditures in the near future. Having served over 600 customers across more than 30 countries, Economy Process Solutions is committed to customizing its services to meet customer needs and ensuring timely product deliveries for optimal satisfaction.
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