CapGrid, a B2B cloud manufacturing startup for precision parts and components, announced today that it has raised USD 7 million in its latest funding round, led by Nexus Venture Partners. The round also saw participation from existing investors Axilor and Anicut Capital. Deepak Jain, a senior Partner at Bain and head of the automotive practice in India, also participated as angel investor in the round.
CapGrid is building a digital supply network. It has been partnering with Tier 2 manufacturers to get precision parts and components sourced, manufactured and delivered to customer’s assembly line.
Speaking on the funding round, Co-founder and CEO, Dheeraj says “Our technology stack and supplier aggregation capability helps customers reduce operational complexity and focus on innovation. With our decentralized global supply network, we can cater to direct material needs to OEMs and Tier 1s across the globe.”
Sameer Brij Verma, Managing Director at Nexus Venture Partners, expressed that “We see India being a global leader in manufacturing in the years ahead and feel CapGrid will increasingly be a partner of choice for OEMs looking to build high quality and agile supply chain while improving margins and OTIF significantly.”
Intequant advisors acted as exclusive Financial advisors while JSA Law and Sarvaank Associates was legal and secretarial advisor.