CapGrid raises Rs 46.28 crore in pre-Series B funding
B2B manufacturing startup CapGrid has raised Rs 46.28 crore, or $4.87 million, in a pre-Series B round. The round is led by a new investor, Hero Enterprise Partner Ventures, which put in Rs 38.30 crore.
Existing investors Nexus Venture Partners and Anicut Capital also take part, along with Axilor Technology Fund and Amit Jain. Anicut and Axilor are each investing Rs 3 crore, while Nexus and Jain are contributing Rs 1 crore each.
CapGrid's board passed a special resolution to issue 2,888 compulsorily convertible preference shares at Rs 1,60,263 per share, according to regulatory filings accessed by Entrackr. Entrackr's own estimate puts the post-money valuation at Rs 430 crore ($46 million), up more than 50% from the Series A, which was a $5 million round led by Anicut Capital in February 2025.
The filings say the funds will go toward expansion and growth, and toward meeting additional capital requirements.
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CapGrid was founded in July 2020 by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi. It is an AI-powered platform serving industries such as automotive, agricultural equipment, earthmoving equipment, aerospace, oil and gas, consumer durables and electric vehicles.
CapGrid's operating revenue grew 2.1X to Rs 209 crore in FY25 from Rs 99.2 crore in FY24, while its net loss declined marginally to Rs 25.92 crore. The company is yet to file its FY26 financials.
Following the allotment, Nexus Venture Partners remains the largest external shareholder at 18.08%, followed by Anicut Capital at 16.40% and Axilor Ventures at 11.94%. Co-founders Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi each hold an 18.63% stake in the company.
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