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Exclusive: CapGrid kicks off pre-Series B round at 50% valuation premium

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Exclusive: CapGrid kicks off pre-Series B round at 50% valuation premium

B2B manufacturing startup CapGrid has raised Rs 46.28 crore, or $4.87 million, in a pre-Series B funding round led by new investor Hero Enterprise Partner Ventures, with participation from existing investors Nexus Venture Partners, Anicut Capital, and others.

The board at CapGrid passed a special resolution to issue 2,888 compulsorily convertible preference shares (CCPS) at an issue price of Rs 1,60,263 per share to raise fresh capital, according to its regulatory filings accessed by Entrackr.

Hero Enterprise Partner Ventures led the round with an investment of Rs 38.30 crore, while Axilor Technology Fund and Anicut Capital are investing Rs 3 crore each. Nexus Venture Partners and Amit Jain will contribute Rs 1 crore each.

As per Entrackr’s estimates, the company’s post-money valuation surged over 50% to Rs 430 crore ($46 million), compared with its previous Series A round of $5 million led by Anicut Capital in February 2025.

Following the pre-Series B allotment, Nexus Venture Partners remained the largest external shareholder, with an 18.08% stake, followed by Anicut Capital with 16.40% and Axilor Ventures with 11.94%. Co-founders Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi each hold an 18.63% stake in the company.

According to the filings, CapGrid will use the funds for expansion and growth, as well as to meet its additional capital requirements.

Founded in July 2020 by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi, CapGrid is an AI-powered platform serving industries such as automotive, agricultural equipment, earthmoving equipment, aerospace, oil and gas, consumer durables, and electric vehicles (EVs).


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