CAPGRID Raises $5 Million in Extended Series A Led by Anicut Capital

Cloud manufacturer of precision components CAPGRID has raised $ 5 million in an extended Series A round. The round was led by Anicut Capital along with continued participation from Nexus Venture Partners and Axilor Ventures.

Two other investors who also participated in the round includes Sunjay Kapur, Chairman of Sona Comstar and immediate past president of ACMA, and Vivek Vikram Singh, MD & Group CEO of Sona Comstar.

The company will use the fresh funding to expand into global markets, improve its AI-based technology for better supply chain tracking, and strengthen its manufacturing partners across more industries and product categories. Further, the company claims that it will also support MSME manufacturers in growing their capabilities.

Speaking about the funding, Dhruv Kapoor, Partner, Growth and Late-stage Equity at Anicut Capital said, "CAPGRID's cloud competent manufacturing brings granularity and visibility to in-efficient supply chains in automotive and consumer durable sectors. It ensures these companies focus on critical areas while CAPGRID takes ownership of non-critical components in their value chain by working closely with suppliers."

The company last raised $7 million in January 2023. The round was led by Nexus Venture Partners. Further, existing investors such as Anicut Capital and Axilor Ventures also participated in the round. At that time the company highlighted that the fund would be utilised to expand its team and warehouses.

Speaking about the recent fundraise, Vivek Vikram Singh, MD & Group CEO of Sona Comstar said, "India’s manufacturing supply chains are like Gordian knots - too complex, fragmented and lacking efficiency of scale. CAPGRID with their cloud centric technology approach cuts through this complexity and provides a more economical and efficient consolidation solution to customers, while providing small suppliers a bigger platform to reach many new customers."

Founded in 2020, the company reported a revenue of around Rs 99 crore last fiscal year. Further, the company aims to reach Rs 220 crore in FY25.