CapGrid Solutions Pvt Ltd, a Gurugram-based B2B startup, has raised Series A funding of $7 million (around Rs 57.2 crore) led by venture capital fund Nexus Venture Partners. 

Existing investors, including Axilor Ventures, Anicut Capital and Deepak Jain (Bain & Company), also participated in the funding round.

As per the startup, the freshly raised funds will be used to scale up its technology stack and hire and boost its operations. 

CapGrid | Reimagining Strategic Sourcing

Founded by Dheeraj Tiwari and Himanshu Raghuvanshi in 2019, CapGrid is an end-to-end Source-to-Deliver startup focused on sourcing, manufacturing, and delivery of automotive parts and components. 

It has an AI-enabled sourcing platform that ties up with tier-2 manufacturers to get such parts and components sourced, manufactured and delivered to the customer’s assembly line. 

Speaking about the development, Dheeraj Tiwari, Co-founder of CapGrid, said, 

“CapGrid is working closely with automotive and industrial manufacturers as a strategic partner for the supply of precision parts and components. Our technology stack and supplier aggregation capability help customers reduce operational complexity.” 

The Gurugram-based B2B startup claims to manufacture 5,000 different precision components through its supplier network of 300 partners across 15 geographies. In 2021, CapGrid raised Rs 4.1 crore in its seed funding round from Anicut Angel Fund, Axilor Ventures and First Cheque. 

The Indian B2B segment has been garnering a lot of traction from investors for quite some time now.

This month, B2B wholesale firm ApnaKlub raised an additional $6 million in a Series A funding round. Also, Hyderabad-based B2B procurement startup Badhaan raised an undisclosed amount in a seed funding round.

Last year, in December 2022, B2B edtech startup Uolo raised $22.5 million in a Series-A funding round. In November 2022, Soptle, a SaaS-led retail commerce platform, raised $300,000 in an angel round.  Additionally, B2B food processing platform Suite42 raised $4.3 million in a seed funding round co-led by Omnivore and Orios Venture Partners.

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