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Exclusive: CapGrid to raise fresh funds from Anicut, Nexus and Axilor

EntrackrEntrackr · 5m 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.

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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: Waycool to raise $13 Mn debt from Grand Anicut

EntrackrEntrackr · 6m ago
Exclusive: Waycool to raise $13 Mn debt from Grand Anicut
Medial

Exclusive: Waycool to raise $13 Mn debt from Grand Anicut B2B food and agritech platform Waycool raises Rs 110 crore (approximately $13 million) in debt from Grand Anicut. This will be the second debt round for the Chennai-based company in the last four months. The board at Waycool has passed a special resolution to issue 1,100 non-convertible debentures at an issue price of Rs 1,00,000 each to raise Rs 100 crore or $13 million, its regulatory filing accessed from the Registrar of Companies shows. The debt investment will come with an annual coupon rate of 18% and a tenure of 18 months. In addition to the 18% interest, an additional 4% interest, mutually agreed upon by the company and the lender, will also be applied, according to the explanatory statement filed by the company. According to the filings, Waycool plans to use the funds for general corporate business purposes. These back-to-back loans with high interest rates indicate that the company is facing challenges in securing an equity round and urgently needs capital. Waycool has raised around $160 million in funding to date from Lightrock, International Finance Corporation, FMO, and 57 Stars, among others. It was also negotiating for more than $50 million which could have propelled its valuation in the range of $900 million to $1 billion. However, the talks did not go through. The firm was valued at $700 million in its last equity round. Founded by Karthik Jayaraman and Sanjay Dasari, Waycool buys fresh produce, including dairy products, from farmers and sells them to retailers and restaurants. It also runs private label brands and handles distribution for fast-moving consumer goods or FMCG companies. Waycool registered 62% growth in its operating revenue to Rs 1,251 crore in FY23 whereas losses of the firm surged 89% to Rs 685 crore during the same period. The company has yet to file its annual report for FY24.

Exclusive: Onsurity raises over $26 Mn in new round led by Creaegis

EntrackrEntrackr · 10m ago
Exclusive: Onsurity raises over $26 Mn in new round led by Creaegis
Medial

Employee healthcare platform Onsurity has raised Rs 219 crore or $26.4 million in a new round led by Creaegis, with the participation of existing investors Nexus Venture Partners and Quona Capital. The board at Onsurity has passed a special resolution to issue 10 equity and 6,302 series B1 CCPs at an issue price of Rs 3,48,089 each to raise Rs 219 crore or $26.4 million, its regulatory filing accessed for the Registrar of Companies (RoC) shows. Creaegis spearheaded the round with Rs 176.4 crore while existing investors Nexus Ventures and Quona Capital injected Rs 31.4 crore and Rs 11.9 crore, respectively. The company will use proceeds for growth, expansion, working capital requirements and general corporate purposes, as decided by the board. According to the startup data intelligence platform TheKredible, OnSurity has been valued at around Rs 1,032 crore or $124 million post-allotment. Following the fresh proceeds, Creaegis will hold 17.10% of the company while Nexus and Quona will command 28.22% and 12.82%, respectively. Founded in 2020 by Yogesh Agarwal and Kulin Shah, Onsurity offers subscription-based services that its customers can purchase and offer it to their full-time employees, contractors, interns and consultants. The company, through its subsidiary, offers business products including cyber insurance, D&O liability insurance, and commercial general liability insurance, among others. Onsurity has raised over $66 million to date including $24 million Series B round in October last year, and $16 million Series A in August 2021. Creaegis, the lead investor, recently closed its inaugural fund of about $426 million to support Indian startups. Its investment portfolio includes companies like Third Wave Coffee, Doceree, Medikabazaar, Zopper, and Kale Logistics.

Exclusive: 60-min fashion delivery startup Slikk to raise $10 Mn led by Nexus

EntrackrEntrackr · 4m ago
Exclusive: 60-min fashion delivery startup Slikk to raise $10 Mn led by Nexus
Medial

Exclusive: 60-min fashion delivery startup Slikk to raise $10 Mn led by Nexus Slikk, a fashion delivery platform promising 60-minute delivery, is all set to raise another funding round following its recent seed investment, sources familiar with the matter told Entrackr. "Nexus is spearheading a $10 million funding round at a $40 million valuation," said one of the sources. "The deal has already been finalized, and existing investors are expected to participate." On Tuesday, Slikk announced $3.2 million seed round led by Lightspeed with participation from Multiply Ventures and angel investors including Abhishek Goyal (Tracxn), Abhinav Pathak (Perpule), Madhav Tandan, Nikhil (Panthera), and Saurabh Gupta (DST Global). Slikk targets young, impulse-driven shoppers, including students, professionals, and trend-savvy urbanites influenced by social media. Over the next five years, it plans to expand into tier I and tier II cities, offering 60-minute fashion delivery while diversifying into seven-plus lifestyle categories. The startup features more than 80 brands, including Snitch, The Souled Store, Freakins, Uptownie, Off Duty, Bonkers, and Bewakoof. "Quick commerce is trending, and investors have recently shown strong interest in the fashion segment. With Myntra introducing a 30-minute delivery service for fashion and beauty products, more startups are likely to follow suit and seek funding,” said another source. Slikk declined to comment on the story while queries sent to Nexus did not elicit an immediate response.

Exclusive: Anant Goel’s Handpickd raises fresh funds

EntrackrEntrackr · 1m ago
Exclusive: Anant Goel’s Handpickd raises fresh funds
Medial

Exclusive: Anant Goel’s Handpickd raises fresh funds Fresh produce startup Handpickd (formerly Sorted) is raising Rs 21.7 crore in an extended seed round led by Nitin Gupta and Genesia Ventures, with participation from BEENEXT and others. Fresh farm produce and supply chain startup Handpickd (previously Sorted) is raising Rs 21.7 crore in an extended seed round led by Nitin Gupta and Genesia Ventures with the participation of BEENEXT, Stargazer Ventures, Eximius Ventures, Sunrise Sunset Family Trust, and others. The Handpickd’s board passed a resolution to approve the issue of 10,547 Series Seed B CCPS at an issue price of Rs 20,566 to raise Rs 21.7 crore or around $2.5 million, according to recent filings accessed from March 2025 from the Registrar of Companies (RoC) shows. Nitin Gupta, Partner at GG Enterprises and Genesia Ventures, led the round with an investment of Rs 6.48 crore and Rs 6 crore, respectively, followed by existing investor BEENEXT, which is contributing Rs 2.16 crore. Sunrise Sunset Family Office will invest Rs 2 crore, while the remaining amount will be covered by Infinyte Club Angel Fund and Eximius Ventures, Stargazer Ventures and Ankit Agarwal. As per filings, the company has already received around Rs 10.16 crore, with the remaining amount expected to follow shortly. The Blume Venture-backed company will be valued at around Rs 300 crore or $35 million, according to Entrackr’s estimates. Founded by Anant Goel along with Nitin Gupta and Sahil Madan, Handpickd operates on a B2B2C model, delivering fresh fruits and vegetables through a tech-enabled supply chain. The company sources produce directly from local farmers and vendors, leveraging a network of micro-entrepreneurs for efficient last-mile delivery. According to startup data intelligence platform TheKredible, Handpickd has raised around $9 million from investors including BEENEXT, Blume Ventures, Kunal Bahl, Rohit Kumar Bansal. The company recorded over 2.3X year-on-year growth in operating revenue, rising to Rs 17.5 crore in FY24 from Rs 7.4 crore in FY23. Its losses remained flat at Rs 2.1 crore during the fiscal year ending March 2024. Handpickd competes with other farm-to-fork funded startups including Otipy ($49 million), Fraazo ($61 million), Deep Rooted ($20 million) which shut their operations. Handpickd also competes with Kareena Kapoor-backed startup Pluckk which is set to raise $10 million.

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