CapGrid, a B2B cloud manufacturing start-up for precision parts and components, has announced a $7 million funding round led by Nexus Venture Partners.
Existing investors Axilor and Anicut Capital also participated in the round. CapGrid is constructing a digital supply network with advanced technology infrastructure, partnering with hundreds of tier 2 manufacturers to source, manufacture, and deliver precision parts and components to customers’ assembly lines. CapGrid claims to have reduced supply chain complexity by 90%, procurement costs to zero, and material costs by 3-5 percent for its customers.
CapGrid is currently getting 5,000+ different precision components manufactured through its supplier network of 300 plus partners and fulfilling it to the customer’s assembly line seamlessly owning delivery and quality in the process. Co-Founder & CEO, Dheeraj said, “We have digitised the entire Source-to-Deliver process. CapGrid is working closely with multiple automotive and industrial manufacturers as a strategic partner for the supply of precision parts & components.”
Himanshu, Cofounder and COO said, “Company has illuminated manufacturing capabilities of over 30,000 suppliers across 15 countries and identified thousands of suppliers operating at 50-60 percent capacity.” Globally this segment is worth $ 1,000 billion-plus in the automotive space itself.
