Bengaluru startup CapGrid has raised Rs 46.28 crore ($4.87 million) in a pre-Series B funding led by new investor Hero Enterprise Partner Ventures, with participation from existing investors Nexus Venture Partners, Anicut Capital and others.  According to the pre-Series B funding, the company is valued at about Rs 430 crore ($46 million), which is a rise of more than 50% from its valuation in the last Series A funding round, in February 2025.

Key highlights

• Bengaluru startup CapGrid received an investment of Rs 46.28 crore in the pre-Series B round, led by the Hero Enterprise Partner Ventures.
• After the Series A in February 2025, CapGrid's valuation rose 50% to Rs 430 crore.

According to regulatory filings, CapGrid's board approved the issuance of 2,888 compulsorily convertible preference shares (CCPS) at Rs 1,60,263 per share. The proceeds will be applied for business expansion and growth activities and other capital needs.

CapGrid Raises Rs 46.28 Crore Led by Hero Enterprise Partner Ventures

Hero Enterprise Partner Ventures led the Funding with an investment of Rs 38.30 crore in the pre-Series B funding. Rs 3 crore each will be invested by Axilor Technology Fund and Anicut Capital and Rs 1 crore each will be invested by Nexus Venture Partners, and Amit Jain.

The investment combines a new partner with existing investors to support CapGrid's next step. The capital is expected to help the startup expand its AI-powered manufacturing platform and meet its operational and business requirements.

CapGrid Valuation Jumps Over 50% to Rs 430 Crore

CapGrid’s post-money valuation has increased to approximately Rs 430 crore ($46 million). This represents a rise of more than 50% compared with its valuation in the previous Series A round, when the company raised $5 million led by Anicut Capital in February 2025.

The latest investment reflects continued investor participation in CapGrid’s technology-led approach to industrial procurement and manufacturing supply chains.

Following the pre-Series B allotment, Nexus Venture Partners remained the company’s largest external shareholder, holding an 18.08% stake. Anicut Capital held 16.40%, while Axilor Ventures owned 11.94%.

Co-founders Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi each held an 18.63% stake in the company following the allotment.

Also Read: Indian Startup Funding Reaches $2.9 Billion in Q3

Bengaluru Startup CapGrid Uses AI for B2B Manufacturing

CapGrid was established in July 2020 by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi, and is an AI-based B2B manufacturing platform for businesses in various industrial verticals.

Its focus is on automotive, agricultural equipment, earthmoving equipment, aerospace, oil and gas, consumer durables and electric vehicles (EVs). The company's business is supporting the industrial procurement and supply-chain process with technology enabled solutions.

CapGrid provides services to businesses in all these industries, and manufacturers are looking for robust supplier networks, effective sourcing and improved coordination within the complicated procurement process.

CapGrid Revenue Doubles to Rs 209 Crore in FY25

The operating revenue of CapGrid rose by over double to Rs 209 crore in FY25 from Rs 99.2 crore in FY24. However, the company's net loss, which shrank slightly to Rs 25.92 crore in FY25, was unable to benefit from the significant rise in revenue.

The company has yet to release its financials for FY26. The latest financial data therefore allow it to be seen how it performed through FY25, and new results will be required to evaluate its more recent revenue strength, profitability and capital needs.

CapGrid Funding to Support Expansion and Growth

According to its regulatory filings, CapGrid intends to deploy the fresh capital towards expansion, growth and additional capital requirements. The pre-Series B funding provides the company with further funding as it develops its presence across industrial sectors and scales its manufacturing technology platform.

With a valuation of approximately Rs 430 crore and backing from existing and new investors, CapGrid will look to build on its FY25 revenue growth. Its ability to translate expansion into sustained revenue growth and improved profitability will remain important indicators of its progress.