CapGrid Secures ₹50 Cr Funding To Deepen Its Manufacturing Play

What happened

Delhi NCR-based B2B manufacturing startup CapGrid has raised ₹50 Cr (about $5.2 Mn) in a Pre-Series B (an early stage of company funding) round to develop higher-end precision components and expand into sectors such as drone manufacturing and data centres (a building full of computers that runs online services). CapGrid previously raised $5 Mn in an extended Series A round led by Anicut Growth Fund.

The funding round values CapGrid at ₹430 Cr (about $45.3 Mn), cofounder and CEO Dheeraj Tiwari told Inc42. Led by Hero Enterprise Venture Partners, the investment arm of Sunil Munjal-led Hero Enterprise, it included primary and secondary transactions, with participation from Axilor Ventures, Anicut Capital, Nexus Venture Partners, and angels.

Part of the primary proceeds will fund R&D into higher-end engineered precision components, while the remainder will support business growth, Tiwari said. Instead, its cloud manufacturing platform coordinates component design, development, production, and delivery through third-party manufacturers.