B2B cloud manufacturing startup Capgrid bags $7 Million in funding led by Nexus Venture Partners

• ByStartupStory     |    January 30, 2023

Capgrid, a B2B cloud manufacturing startup specialising in precision parts and components, raised $7 million in a funding round led by Nexus Venture Partners on Monday. Existing investors Axilor and Anicut Capital, as well as angel investor Deepak Jain, Senior Partner at Bain and Head of the Automotive Practice in India, participated in this round.

CapGrid intends to use the new funding to strengthen its technology infrastructure, focus on talent acquisition, and scale up cloud manufacturing with its supply partners, according to the company. According to the founders, the new capital will help them grow 8-10x in the next 15 months.

CapGrid, founded by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi, is constructing a digital supply network with advanced technology infrastructure, partnering with hundreds of Tier II manufacturers to source, manufacture, and deliver precision parts and components to customers’ assembly lines.

CapGrid works in an asset-light model with warehousing and logistics players to deliver to manufacturers across the country.

CapGrid Cofounder and CEO Dheeraj Kumar stated that the company is working closely with multiple automotive and industrial manufacturers on long-term contracts for the supply of precision parts and components.

“CapGrid’s work as an aggregate supplier along with its Sourcing and Procurement Control Tower helps customers reduce operational complexity and focus on innovation. We have marquee logos of Indian manufacturers in the immediate pipeline and aim to build decentralised global supply networks to cater to OEMs and Tier 1s across the globe.”

Nexus Venture Partners expressed excitement about partnering with CapGrid, which is revolutionising precision component sourcing and procurement for the automotive manufacturing sector through its robust network of cloud manufacturers.

Follow Startup Story