CapGrid Solutions Secures $5 Million to Strengthen Global Expansion and Supply Chain Operations

B2B manufacturing startup CapGrid Solutions has raised $5 million in a funding round led by Anicut Growth Fund, with participation from existing investors Nexus Venture Partners and Axilor Ventures. The investment round also included Sona Comstar executives, Sunjay Kapur and Vivek Vikram Singh, who joined as investors. Following this funding, the company’s valuation stands at Rs 305 crore.

The company plans to utilize the funds to accelerate its global expansion and invest in technology to optimize supply chain operations. CapGrid Solutions had previously been focused solely on the Indian market but has now initiated exports to international markets. CEO Dheeraj Tiwari stated that the company has begun exploring global business opportunities, particularly in the United States and Germany, aiming for its international operations to contribute 30% of its total revenue within the next year.

Founded in 2020 by Dheeraj Tiwari and Himanshu Singh Raghuvanshi, the Gurugram-based startup provides sourcing and procurement solutions for OEMs and tier-1 suppliers in the automotive sector. The company facilitates the procurement of precision parts and components by partnering with a network of suppliers. Currently, CapGrid Solutions operates 11 fulfillment centers and collaborates with 50 strategic supply partners to enhance efficiency in direct material sourcing.

Commenting on the investment, Anicut Growth Fund partner Dhruv Kapoor emphasized that CapGrid Solutions' cloud-based manufacturing system helps bring transparency and efficiency to supply chains in the automotive and consumer durables sectors. He highlighted that such a solution is essential as India transitions towards a manufacturing-driven economy.

In addition to its focus on the automotive sector, CapGrid Solutions has expanded into the consumer durables industry, which now accounts for nearly half of its total revenue. The company has secured partnerships with leading manufacturers in the air conditioning, fan, and home appliance segments. Tiwari noted that working with the same supplier base across multiple industries allows the company to mitigate risks and enhance operational flexibility.

The startup reported Rs 99 crore in revenue for the last fiscal year and is targeting Rs 220 crore in the upcoming financial year. Profitability is also on the company’s agenda for the next fiscal year.

This funding round follows the $7 million investment raised by CapGrid Solutions in January 2023, led by Nexus Venture Partners.

Speaking on the company’s future potential, Sona Comstar's Sunjay Kapur stated that CapGrid Solutions has positioned itself as a key player in supply chain management across industries. With its expertise in sourcing and procurement, the company is well-placed to become a strategic purchasing partner for businesses both in India and globally.