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.
This latest funding comes after CapGrid raised $7 million in January 2023, led by Nexus Venture Partners. The current round closed at a valuation of Rs 305 crore, according to a report by Economic Times.
CapGrid plans to utilize the newly secured funds to accelerate its global expansion and invest in technology to enhance supply chain and operational efficiencies.
Founded in 2020 by Tiwari and Himanshu Singh Raghuvanshi, CapGrid simplifies procurement for automotive manufacturers by connecting them with material suppliers through its platform. The company specializes in helping OEMs source precision parts and components from its network of suppliers.
Currently, the Gurugram-based startup operates 11 fulfillment centers and collaborates with 50 strategic supply manufacturing partners. CapGrid reported a revenue of approximately Rs 99 crore in the last fiscal year and aims to reach Rs 220 crore in FY25.
With its strong financial backing and strategic expansion plans, CapGrid is poised to further solidify its position in the B2B manufacturing ecosystem.
