Originals · Startup · Startups & Fintech
CapGrid closes Rs 50 Cr round led by Hero Enterprise to grow its cloud manufacturing network for precision parts
The Gurugram B2B manufacturing startup is valued at Rs 430 Cr after a mix of primary and secondary deals; filings show Rs 46.28 Cr of fresh capital.
CapGrid, a Gurugram business to business manufacturing startup, has closed a Rs 50 crore round made up of primary and secondary transactions that values it at Rs 430 crore, cofounder and chief executive Dheeraj Tiwari told The Economic Times on October 29. The round was led by Hero Enterprise Venture Partners, the investment arm of Sunil Munjal led Hero Enterprise, with existing backers Axilor Ventures, Anicut Capital and Nexus Venture Partners and some angel investors also taking part.
Regulatory filings reported by Entrackr on October 16 show the fresh capital portion: the board approved 2,888 compulsorily convertible preference shares at Rs 1,60,263 each to raise Rs 46.28 crore. Hero's fund put in Rs 38.30 crore, Axilor and Anicut Rs 3 crore each, and Nexus Venture Partners and Amit Jain Rs 1 crore each. Entrackr estimated the post money valuation at Rs 430 crore, more than 50% above the Series A of $5 million led by Anicut Capital in February 2025. ET described the rise as 40%.
Founded in July 2020 by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi, who each hold an 18.63% stake after the allotment, CapGrid sources, manufactures, checks and delivers precision parts for industrial buyers. Entrackr describes it as an AI powered platform serving automotive, agricultural and earthmoving equipment, aerospace, oil and gas, consumer durables and electric vehicle makers. On its website, the company says it runs a cloud manufacturing model with more than 400 active suppliers, 11 fulfilment warehouses and over 10,000 unique parts supplied.
The business is growing but still loss making. Operating revenue rose 2.1 times to Rs 209 crore in FY25 from Rs 99.2 crore in FY24, while net loss narrowed slightly to Rs 25.92 crore, according to Entrackr, which noted the company had not yet filed FY26 accounts. ET reported that the new money will go into expanding into new industrial sectors, research and development, and adding domestic customers.
